Summary
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Xeneta data shows 10% of the global container shipping fleet has been affected by the Hormuz blockade. 99 pre-crisis services with 3.2 million TEU nominal capacity have collapsed to just 11 active services (74,000 TEU). Of 488 vessels that previously operated those services, 470 have been operationally diverted or displaced. Spot rates have surged 192% on Asia-US trades (Far East-USWC: $5,493/FEU vs $1,879 on Feb 28) and 106% on Asia-North Europe ($4,572/FEU vs $2,220 on Feb 28). Xeneta chief analyst Peter Sand said recovery will take at least three months in a best-case scenario, with spot rates continuing to rise for at least four more weeks.