Business

Oil Price Crash Impact on Supply-Chain

⚓ April 21, 2020 / ⌚ 04:55:00 GMT NEWS MARKETS COMMODITIES

Cargo ship travel heat map. Photograph: MarineTraffic

A growing number of Ultra Large Container Vessels (ULCV) are taking the longer route from Asia to Europe and vice versa, as seen in this heat map we have created of ULCV journeys over the last 30 days.

A drop in oilprices has resulted in these large vessels choosing to go around the Cape, rather than through the Suez, where tolls can be very expensive.

MarineTraffic data shows that in the last month five vessels with capacity over 15k TEU have recently travelled around or are currently bearing towards the Cape of Good Hope.

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