The naval blockade imposed on the Red Sea as a result of the war tension created by Israel’s war in Gaza, which started at the end of 2023, is starting to create a problem of congestion of empty containers in Israeli ports. Western Mediterranean, Like in Valencia. Shipping companies operating transoceanic routes Asia And EuropeFollowing the restructuring of sea routes to prevent attacks by the Houthis as their ships pass through the East, the Middle East and the Suez Canal, which extends their journey by up to two weeks as the Houthis are forced to go to the old continent on the border. the Cape of Good Hope (South Africa)- We have emptied more empty containers since December Grao enclosure.
According to the Port Authority of Valencia (APV), there was an increase of 13% in the number of containers in December compared to the same month in 2022. Thus, the president of the association of managers and businessmen in the logistics industry, Propeller ValenciaAlfredo Soler warns that “a certain increase in empty containers is expected” Mediterranean ports As a result of the restructuring of sea lanes, although in a few weeks everything will be put in order and gradually return to normal,” comments the CEO of TransBase Soler.
“Unfortunately, the problem will continue and new routes will be longer and more expensive. He points out that sea transport will become more expensive and some export companies will lose orders and reduce their productivity.” usually do The Valencian Community and the rest predict that large container ships “will stop exploring a large part of the Eastern Mediterranean and connectivity in all areas of this geographical region will decrease, which will completely affect export companies.” Spain. It also warns that the cost of products imported from Asia will continue to rise.
Foreign trade costs
Proof of this is that maritime transport port of valenciaThe growth of both exports and imports does not stop so far in 2024. Valencia Containerized Freight Index (VCFI). It remained at 1,779.65 points in the first month of 2024, remaining at levels similar to those recorded in the first quarter of 2021.
Export cargo from the Grao facility increased for the third month in a row
Export freight from the Grao facility increased for the third month in a row, recording a 43.5% increase in January. VCFI has achieved 78% growth since the start of the historic streak in January 2018. The cost indicator for foreign trade reflects the largest increase in export freight. Mediterrenian towards the region Far East (+125%) and correct United States of America And Canada With a 98% increase.
Emission rights
As detailed in the analysis of the latest report VCFIshipping reference Mediterranean region cIn the rest of the world, the increase in operating costs of shipping companies as a direct result of the increasing tension in the Middle East explains the increase in maritime freight rates. In this sense, he adds that shipping companies’ services and routes have been restructured due to the attacks. Red Sea (choosing longer alternative routes) has led to increased fuel costs. Added to this is the coming into force of the implementation of the ETS (European Union Emissions Trading System), the fees that Brussels will impose on European ports from 2024; This represents an increase in the costs of transoceanic routes with stops in EU ports.