The Red Sea crisis continues to drive the container market as the number of
ships diverted to the Cape route hit a fresh high with no signs of abating. This
will continue to create a capacity shortage across all routes, with the Cape
diversions and incremental capacity needed to connect to Red Sea and Med ports
already soaking up more than 7% of the global containership fleet. Freight rates
retained most of the January gains, with the SCFI shedding only 5.8% of its
pre-Chinese New Year peak whil