The Impact of the Security Crisis on the Global Supply Chain

In the last quarter of 2023, security concerns in the Red Sea have significantly affected the global supply chain. These concerns, especially due to increasing attacks on commercial vessels, have intensified. This situation has forced the world's leading container shipping companies to divert to alternative routes.

Among these routes, Cape of Good Hope, compared to the Suez Canal, means a longer journey time. The preference for this route will lead to increased transit times and freight charges. For example, the distance between Singapore and Rotterdam, a typical route between Asia and Europe, shows a 40% increase when using the Cape of Good Hope instead of the Suez Canal.

The importance of the Suez Canal, directing approximately 15% of global maritime traffic and the preference for maritime transportation in trade being around 90%, becomes even more pronounced. The unavailability of the canal brings along delays and cost increases in the supply chain.

This situation also affects countries in strategic locations like Turkey. Particularly, the container stocks and equipment availability in the Eastern Mediterranean and Turkey's Mediterranean ports could be under pressure. Increases in import and export freight rates and port congestion could affect regional logistics flows.

Additionally, the restrictions on passages in the Panama Canal due to drought pose another pressure factor on global logistics. This is especially prominent due to the limited use of this canal, primarily for energy shipments, and its potential effects on fuel prices.

These developments are forcing the logistics sector to produce more flexible and innovative solutions. To ensure the continuity of global trade, it is essential to adapt quickly and effectively to these new challenges.