Singapore Port Logjam Lingers as Container Ships Keep Piling In.

The container port in Singapore is experiencing a logjam due to ships avoiding the Red Sea because of attacks by Houthi rebels. This congestion is causing higher freight rates and trapping more cargo in shipyards. Manufacturers and exporters in Singapore may have to hold onto their inventories longer. Nearby ports in Malaysia are not easy substitutes because they are not as well-connected. The logjam is expected to continue into 2025, but container lines and businesses can adjust their inventory management practices. The peak season for shipping is expected to end sooner this year, which should ease freight rates. [Extracted from the article]

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