Master Shipping Challenges: SeaVantage's SVMP & Cargo Monitoring Dashboard (Red Sea Disruption and Panama Canal Drought)

March 10, 2024

The recent disruptions in the Red Sea and Panama Canal Drought have sent ripples through the global shipping industry, causing significant impacts on established routes and compelling vessels to reroute. This has introduced a complex web of challenges for vessels transiting through these regions. In such turbulent times, monitoring vessels becomes critical for businesses involved in maritime trade.

The situation is constantly evolving and remains highly volatile. Generally, 12% to 15% of global trade passes through the Red Sea, out of which 30 % is occupied by container traffic. The Suez Canal includes oil exports and for 30% of global container shipping volumes. The re-route of the vessels are resulting in an increased transit time, increased fuel consumption and congestion at ports causing a hard toll on shippers globally.

To assist and empower the businesses during these testing times, as being an ocean visibility platform SeaVantage presents a complimentary free trial to the SeaVantage Maritime platform known as “SVMP” with "Cargo Monitoring Dashboard (Red Sea / Panama)".

The SVMP platform will offer complimentary Container tracking, Vessel tracking and Port congestion data with the real-time data insights and  live tracking of the shipment. Additionally, Cargo Monitoring Dashboard streamlines the tasks of shippers, providing them easy access to diverse shipment information within a single dashboard. This enhances operational efficiency and empowers shippers in making informed decisions.

As on 23rd January 2024, we've observed 535 vessels undergoing the re-routing, reflecting the dynamic nature of maritime activities. Notably, 34 vessels are navigating the Red Sea, with an additional 16 traversing the Panama Canal.

It's important to recognize that vessel statuses change regularly, emphasizing the need for ongoing vigilance to ensure smooth operations. Our dashboard stands as a beacon of support, ensuring you stay informed, agile, and ahead of evolving circumstances.

Recently, on 28th February 2024, we've observed 639 vessels undergoing the re-routing. 34 vessels are presently navigating the Red Sea and 19 traversing the Panama Canal. There has been a notable rise of 104 instances of vessel re-routing observed over a month.

Major companies like Maersk, Hapag-Lloyd AG,CMA CGM, EVERGREEN LINE and MSC Mediterranean Shipping Company continue to reroute their vessels to avoid the Red Sea. Panama Canal Drought is also resulting in re-route of the vessel. Maersk states Instead of going through the Panama Canal, the vessels would call the Ports of Balboa, Panama, on the Pacific side — dropping off cargo heading for Latin America and North America and picking up cargo heading for Australia and New Zealand. As on 23rd January 2024, Maersk contributed to the highest with a voyage rate of 188. However as of 28th February 2024, we notice that OOCL is leading, contributing with a voyage rate of 232. The data presented below provides valuable insights into the  status of container vessel voyage rates among leading carriers in the maritime industry.

Cargo Monitoring Dashboard provides detailed data insights regarding the current announcement from Carriers and route to be taken by the vessel with the departure and destination details such as updates on ATD,ETD and ETA. The enhanced search functionality and sorting capabilities makes this dashboard versatile and allows the user to get a wide range of data in a single dashboard.

Red Sea & Panama Canal Dashboard as of 02/11/2024

Key features of the dashboard

Insightful Data Access: Track the Re-routed vessels, Panama Transiting vessels and Red Sea Transiting vessels including detailed insights on Departure and Arrival of the shipments.

Carrier Announcements: Stay informed with updates from the carriers regarding the status of vessels and their respective routes.

Enhanced Search Functionality: Efficient searching capabilities provided to track shipments via Vessel name, IMO Number, Voyage Number and MBL.

Graphical Insights: Access graphical representations offering detailed insights into the status of vessels and rate of voyages by carrier.

Live Tracking on World Map: Track the live location of shipments on the world map providing Real-Time tracking insights on vessels.

Enhanced Sorting Capabilities: Allowing users to sort data based on their points of interest which enables the users to focus on the required information.

Routing Data with Predictive Analysis: SeaVantage's platform SVMP allows users to access the route of their shipment including live tracking,past track and predicted routes.

Re-Routing Insight : Track the count of vessels re-routed due to Panama Canal Drought and Red Sea Disruption subjected to each carrier with the detailed insights on the shipments.

Advantages of SVMP and Cargo Monitoring Dashboard

- Operational Efficiency

Streamlines tasks, offering easy access to diverse shipment information for enhanced operational efficiency.

- SeaVantages Enhanced Technology

 PTA - Predicted time of arrival and PTB predicted time of berth. PTA offers a more precise estimation of when a vessel will arrive at the port and PTB offers the berthing information at terminals.. This accuracy aids in better resource allocation, scheduling, and operational planning for port activities.

- Improved Visibility

Enhances visibility into the shipping landscape with graphical representations and live tracking.

- Proactive Customer Service

Allows businesses to provide proactive customer service by anticipating and addressing disruptions.

- Timely Decision-Making

Users can make quick, informed decisions based on real-time tracking, minimizing disruptions.

- Risk Mitigation

Proactively manages risks by staying informed about re-routed vessels and carrier announcements.

- Efficient Data Retrieval

Offers efficient data retrieval through enhanced search functionality and sorting capabilities.

Empower your shipping experience with SeaVantage's complimentary SVMP with Cargo Monitoring Dashboard. To get the streamlined and comprehensive view of all your shipment details, Sign up today.

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