A THIRD of global container shipping will be badly affected by Red Sea missile attacks and Cape rerouting, says London's Drewry Maritime Research, reports Ventura, California's gCaptain.

This situation is unfolding just before the Chinese New Year period.

Drewry's analysis suggests that more than 800 ships, representing around 10 million TEU and accounting for roughly one-third of the world's container ship capacity, are affected.

Concerns have arisen regarding how this disruption will affect the pre-Chinese New Year "rush".

However, Drewry is optimistic, stating that there is currently enough capacity in the market to absorb much of the impact for the time being.

"Any disruption before Chinese New Year is always a concern for shippers. Although the current situation is already causing bottlenecks in global supply chains, we believe that there is sufficient capacity to handle the resulting congestion, equipment shortages, and schedule gaps," said Drewry Supply Chain Advisors head Philip Damas.

"It should be noted, however, that container equipment is likely to remain displaced for several weeks, which will affect service schedules and create inflationary headwinds. There is limited flexibility to mitigate any escalation in the regional security situation."