Important update: Container Shipping Lines to avoid Suez Canal due to attacks in the Red Sea .
Dear Inter-Sped Clients and Partners:
Please find below summary of the situation:
- In response to attacks on global shipping fleets passing through the Rea Sea (On route to and from the Suez canal), CMA CGM, Hapag-Lloyd, Maersk and MSC (Four of the world’s largest container-shipping companies accounting for 53% of global container trade) – have paused/suspended their transits through the Suez Canal until they judge that the red sea passage is safe for both crew and equipment.
- The implications for global supply lines are potentially severe, with approximately 30% of the word’s container volumes traditionally passing through the Suez Canal & the Bab al-Mandab Straight.
If the situation does not improve, we may see a surge of vessels being routed via the “Cape of Good Hope” (South Africa) which will mean a dramatic increase in transit times & rates for many of the major trade lanes that traditionally transit through the Suez Canal.
- Below for your reference, please find a screen shot from google maps showing the area in question.
We are in close contact with the carries and as always will do our best to ensure we achieve the very best that circumstances allow. We continue to keep you updated on all your cargo movements on an individual shipment level
For further reading:
- https://www.moneyweb.co.za/news/international/egypts-suez-canal-authority-says-monitoring-tensions-in-red-sea/
- https://www.reuters.com/world/middle-east/red-sea-attacks-force-rerouting-vessels-disrupting-supply-chains-2023-12-18/
- https://www.economist.com/international/2023/12/16/a-new-suez-crisis-threatens-the-world-economy
- https://www.news24.com/fin24/international/shipping-firms-suspend-red-sea-traffic-after-attacks-while-panama-canal-is-hit-by-drought-20231216
Best Regards
Linda & The Inter-Sped team
