Geopolitical turmoil and climate-related issues cause disruption to shipping at our ports

The port's CEO Jacques Vandermeiren says that terminal operators, transport companies and inland shipping firms are 'losing vast sums of money' as waiting times increase and supply chains break down.

Average vessel waiting times in Antwerp increased from 32 hours at the end of March to 44 hours by mid-May, a rise of 37%. Similar patterns have been observed at other major ports elsewhere in Europe. 

Mr Vandermeiren went on to say that "We only saw this kind of thing previously during the pandemic. Then there was a clear cause, a sudden, synchronised global shutdown. Now, however, we’re facing bottlenecks everywhere for a variety of reasons, and no one knows how long this will last”

The current gridlock is the result of a number of factors occurring simultaneously. In the Red Sea, attacks by Houthi rebels have made the Suez Canal route too dangerous for many vessels. Consequently, ships are being diverted around the Cape of Good Hope.

This adds two week to journey times. Meanwhile, drought conditions have placed restrictions on shipping through the Panama Canal. Furthermore, low water levels on the River Rhine are limiting access to and from Antwerp's hinterland by inland waterways.

Geopolitical issues are also reshaping global trade flows. 

The Port of Antwerp’s container terminal has long been operating at full capacity. Congestion is worsening as containers are currently ships are spending longer at the docks (8 days rather than 5 days). The impact is being felt in both imports and exports.

Limited inland shipping capacity is hampering outbound flows, while delays in ships arriving are causing export cargo to remain on the quayside for longer.