Russell Group, a data and analytics company, has reported that $131 billion in trade is at risk of being disrupted by the ongoing port congestion at the Ports of Singapore, Port Klang and Tanjung Pelepas. All three ports have faced significant port congestion since the middle of June, with vessels avoiding the Red Sea because of the Houthi attacks in the area. Diverted vessels have been arriving either behind schedule or using the port as an alternative, which is creating large queues. The analysis of these ports is from 12 June until 12 August, with the middle of June experiencing the worst port congestion, and August being the earliest date possible for the congestion to ease. Further analysis by Russell’s ALPS Marine identified that commodities like crude oil ($7.3 billion) and Integrated circuit boards ($11 billion) were the most likely to be impacted by the delays at the ports. Due to its size and location near the Strait of Malacca, Singapore has found itself a focus for many shipments, resulting in a large queue of ships waiting to enter the port.
