The Business Times
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Singapore, Malaysia ports could come under ‘massive pressures’ from Red Sea diversions: analyst

Tay Peck Gek

Tay Peck Gek

Published Thu, Dec 21, 2023 · 10:12 AM
    • In 2021, Singapore became the “go-to” port for shipping lines to catch up on lost time and connections, when the container ship Ever Given blocked the Suez Canal for a week, and resulted in a drastic drop in shipping schedule reliability.
    • In 2021, Singapore became the “go-to” port for shipping lines to catch up on lost time and connections, when the container ship Ever Given blocked the Suez Canal for a week, and resulted in a drastic drop in shipping schedule reliability. PHOTO: BT FILE

    A VETERAN shipping analyst has warned that ports in Singapore and Malaysia could come under “massive pressures” amid diversions of shipping routes from the Red Sea. Companies hoping to ship goods from Asia to Europe in 2024 could also face a shortage of vessels.

    Lars Jensen, chief executive of consultancy Vespucci Maritime, said there would be delays caused by both reroutings and time taken in a transhipment port turning out to be “a lot longer” than anticipated.

    He was speaking on Thursday (Dec 21) at a webinar hosted by freight forwarder Flexport to discuss the impact of the detour that hundreds of vessels are making to avoid Yemeni rebel attacks in the Red Sea.

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