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Global Ocean Carriers Halt Red Sea Transits – What to Expect
https://www.flexport.com/blog/global-ocean-carriers-halt-red-sea-transits-what-to-expect/
As of today, 389 carrier vessels accounting for 5.4 million TEUs of capacity are actively diverting, will divert, or have already diverted from the Suez Canal as a direct result of these attacks.
After Maersk’s decision on December 31 to re-pause transits through the high-risk areas, they are now diverting vessels that were idling south of the Gulf of Aden towards the southern tip of Africa.
COSCO is also now routing most vessels around the Cape of Good Hope but continues to assess on a vessel-by-vessel basis. See the below visual in which COSCO’s vessels are in yellow.
Some carriers are deploying vessels that typically service other trades like Asia to North America and LATAM to Asia to Europe trades to compensate for service disruptions. Today alone, we saw 4 vessels across HMM and Hapag-Lloyd accounting for 33k TEUs of capacity that will be deployed on the Asia to North Europe and Mediterranean trades. Vessel deployment will help, but not solve capacity constraints. Equipment shortages at origin ports are expected to rise in the coming weeks as the impacts of service disruptions make their way downstream.
The military coalition aimed at protecting the risk areas now consists of 12 nations. On Wednesday, the coalition warned Houthis of ‘consequences’ for continued attacks in the region. From the White House, “The Houthis will bear the responsibility of the consequences should they continue to threaten lives, the global economy, and free flow of commerce in the region’s critical waterways.”
https://www.flexport.com/blog/global-ocean-carriers-halt-red-sea-transits-what-to-expect/
As of today, 389 carrier vessels accounting for 5.4 million TEUs of capacity are actively diverting, will divert, or have already diverted from the Suez Canal as a direct result of these attacks.
After Maersk’s decision on December 31 to re-pause transits through the high-risk areas, they are now diverting vessels that were idling south of the Gulf of Aden towards the southern tip of Africa.
COSCO is also now routing most vessels around the Cape of Good Hope but continues to assess on a vessel-by-vessel basis. See the below visual in which COSCO’s vessels are in yellow.
Some carriers are deploying vessels that typically service other trades like Asia to North America and LATAM to Asia to Europe trades to compensate for service disruptions. Today alone, we saw 4 vessels across HMM and Hapag-Lloyd accounting for 33k TEUs of capacity that will be deployed on the Asia to North Europe and Mediterranean trades. Vessel deployment will help, but not solve capacity constraints. Equipment shortages at origin ports are expected to rise in the coming weeks as the impacts of service disruptions make their way downstream.
The military coalition aimed at protecting the risk areas now consists of 12 nations. On Wednesday, the coalition warned Houthis of ‘consequences’ for continued attacks in the region. From the White House, “The Houthis will bear the responsibility of the consequences should they continue to threaten lives, the global economy, and free flow of commerce in the region’s critical waterways.”