Asian Shipping — Shipping supply chain weekly: trade flows, freight and Hormuz updates (week 41)

UBS Asian Shipping shipping supply chain weekly (week 41) compiles weekly high-frequency data from the UBS Evidence Lab, the Ministry of Transport and other third-party data providers to track the latest trade flows across shipping, shipbuilding and ports. Key highlights: earnings of crude tankers surged amid disruption and recovering trade volume, as crude oil outflows from the Persian Gulf remained at elevated levels, the Saudi Arabia East-West pipeline could reach full capacity in coming days, and continued attacks on vessels plus capacity losses under STS and re-routing drove the crude tanker market to break all-time highs. Container freight rates remain elevated, with container throughput at key Chinese ports up YoY, firm mainlane and transatlantic rates, and a continued recovery in Red Sea container traffic. On congestion, China's port congestion index eased notably during the National Holiday, and El Nino reduced daily transits of the Panama Canal. Upside risks for Asian Shippin