Container ships are berthed at PSA's Pasir Panjang Terminal in Singapore July 15, 2019.
Global port congestion has reached an 18-month high, with 60% of ships waiting at anchor located in Asia, maritime data firm Linerlytica said this month.
SEVERE CONGESTIONSingapore, the world's second-largest container port, has seen particularly severe congestion in recent weeks.
"The peak season, which traditionally starts in June, was advanced by a full month, causing ocean freight rates to soar."
Container freight prices from Asia to the U.S. and Europe have tripled since early 2024.
Persons:
Edgar Su, Linerlytica, Yemen's, Jayendu Krishna, Drewry, PortCast, Niki Frank, Dimerco, Jonathan Gold, Judah Levine, Jared Bernstein, Gene Seroka, Peter Sand, Jeslyn Lerh, Lisa Baertlein, Lisa Barrington, Miyoung Kim, Kim Coghill
Organizations:
REUTERS, Retailers, Ships, Drewry Maritime Advisors, Singapore, Singapore's, Port Authority, Drewry, Keppel, Tuas, Maersk, DHL Global, Asia, Descartes, National Retail Federation, Container, U.S ., of Economic Advisers, U.S, DHL, Thomson
Locations:
Pasir Panjang, Singapore, SEOUL, SINGAPORE, Asia, Africa, Malaysia's Port Klang, Tanjung Pelepas, Shanghai, Qingdao, China, South Korea, U.S, Europe, U.S . East Coast, U.S . West, of Los Angeles, Los Angeles, Seoul