Asian port congestion prompts Hapag-Lloyd to suspend Manila bookings

Port congestion across Southern, Southeast, and East Asia currently accounts for 64% of global port congestion. This buildup is driven by the convergence of vessels returning from Europe via the Suez Canal with those taking the longer route around the Cape of Good Hope.

In response to the accumulation of empty containers and difficulties removing them from terminals, Hapag-Lloyd has temporarily suspended new bookings to Manila, Batangas, and Subic Bay in the Philippines.

Regional freight rates have seen significant pressure, with intra-Asian rates increasing 177% since late February, reaching levels not seen since the 2021-2022 pandemic peak. Delays have intensified in major hubs including Singapore, Port Klang, and Ho Chi Minh/Cai Mep, alongside ongoing issues in Chinese ports.