Red Sea sparks 16% increase in TEU miles

Posted on February 26, 2024   |  

Sea-Intelligence's standard demand estimation technique calculated 860 billion worldwide TEU Miles for 2023.

In 2024, maintaining the same global cargo volume but diverting around The Cape of Good Hope would necessitate 994 billion TEU Miles, representing a 16% increase.

The trade route between the Far East and North America experiences the least overall damage due to volume-weighted impact assessment.

Distances from the Far East to the US West Coast and the US East Coast via Panama remain unaffected by the diversion.

The 16% rise in global TEU Miles corresponds to an equivalent increase in capacity demand.