Container ship attacked twice by Houthis
Following two attacks on a container ship belonging to the Danish shipping company Maersk Line in the Red Sea, the company has again suspended voyages through the affected area after deciding a few days earlier to venture through the Suez Canal. The Suez Canal, an important artery of world trade, remains off-limits to ships of most shipping companies following attacks by Yemeni Houthi rebels in the Red Sea.
Freighters travelling between Asia and Europe continue to be diverted via the Cape of Good Hope at the southern tip of Africa. This has a major impact on ship schedules. The decision to reroute ships, combined with the existing restrictions in the Panama Canal due to a severe drought, will lead to a capacity bottleneck, which will be exacerbated by the upcoming Chinese New Year.
UNCERTAINTY ON OPENING OF THE STRAIT OF HORMUZ CONTINUES
According to a report published by Allianz Research, approximately 1,150 cargo-carrying vessels with a combined vessel and cargo value estimated at $125 billion […]
These are the world’s fastest container ports
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Middle East Supply Chain Update
Sea Freight
Following the withdrawal of war risk coverage as of 5 March, most carriers have suspended new bookings to and from the Middle […]
