Event Details
In the past few months, the global supply chain has faced serious disruptions, primarily due to chokepoints at two critical shipping routes. Tensions have risen in the Red Sea, where the Suez Canal, the shortest maritime route between Asia and Europe lies. Attacks on commercial vessels passing through by the Houthis in Yemen have raised security concerns and increased delivery times by 10 days on average. On the other side of the world, a severe drought at the Panama Canal, which accounts for about five percent of global maritime trade, threatens its ability to handle large cargo ships. The authorities have been forced to reduce the size or number of ships allowed to pass through, causing longer shipping times.
This has led to major logistics companies either stopping their operations altogether, or diverting their ships to travel longer routes, such as around the Cape of Good Hope. As a result, this has led to higher costs for goods manufacturers, with container costs surging by 173 percent since the beginning of December. Some companies have also turned to sea-air transport, which is about 2.6 times the cost of ocean transport.
Join AmChamSG as we hear from a panel of operators and experts on strategies to deal with this conflict and what to expect over the long-term.
Please note the following details:
- The event is held under the Chatham House Rule https://www.chathamhouse.org/about-us/chatham-house-rule
- Images from the event may be used for AmCham Singapore's post-event information, marketing and promotional purposes.
- The personal information provided to us will only be used for event registration and administration.
By registering for this event, you agree and consent to the above.
* For any enquiries please contact the AmCham Programming and Events Team at pe@amcham.com.sg.
