The attacks, targeting a route that allows East-West trade, especially of oil, to use the Suez Canal to save the time and expense of circumnavigating Africa, prompted some shipping companies to reroute vessels earlier in December.
Others, now encouraged by the deployment of a U.S.-led military operation, are resuming crossings of the area.
Below are companies’ reactions (in alphabetical order) to the situation in the Red Sea:
C.H. ROBINSON
The global logistics group said on Dec. 22 it had rerouted more than 25 vessels around the Cape of Good Hope over the past week, and that number would likely continue to grow.
“Blank sailings and rate increases are expected to continue across many trades into Q1 of 2024,” it added.
CMA CGM
The French shipping group is planning a gradual increase in the number of vessels transiting the Suez Canal, it said on Dec. 26. “This decision is based on an in-depth evaluation of the security landscape and our commitment to the security and safety of our seafarers,” CMA CGM said in a statement.
The company had previously rerouted several vessels via the Cape of Good Hope.
EURONAV
The Belgian oil tanker firm said on Dec. 18 it would avoid the Red Sea area until further notice.
EVERGREEN
The Taiwanese container shipping line said on Dec. 18 its vessels on regional services to Red Sea ports would sail to safe waters nearby and wait for further notification, while ships scheduled to pass through the Red Sea would be rerouted around the Cape of Good Hope. It also temporarily stopped accepting Israeli cargo.
FRONTLINE
The Norway-based oil tanker group said on Dec. 18 that its vessels would avoid passages through the Red Sea and the Gulf of Aden.
GRAM CAR CARRIERS
The Norwegian shipping company, which specialises in pure car truck carriers, said on Dec. 21 its vessels were restricted from passing through the Red Sea.
HAPAG-LLOYD
The German container shipping line said on Dec. 21 it would reroute 25 ships by the end of the year to avoid the Suez Canal and the Red Sea, adding it would take further decisions at the end of the year.
A projectile believed to be a drone on Dec. 15 struck its vessel sailing close to the coast of Yemen. No crew were injured.
HMM
The South Korean container shipper said on Dec. 19 it had from Dec. 15 ordered its ships from Europe that would normally use the Suez Canal to reroute via the Cape of Good Hope for an indefinite period of time.
HOEGH AUTOLINERS
The Norwegian shipping company said on Dec. 20 it would stop Red Sea transit after the Norwegian Maritime Authority raised its alert for the southern part of the sea to the highest level.
MAERSK
The Danish shipping group said on Dec. 24 it is preparing to resume shipping operations in the Red Sea and the Gulf of Aden.
“With the OPG (Operation Prosperity Guardian) initiative in operation, we are preparing to allow for vessels to resume transit through the Red Sea both eastbound and westbound,” it said in a statement.
On Dec. 19, Maersk said it would reroute its vessels around the Cape of Good Hope, imposing extra charges on container transport on affected routes.
MSC
Mediterranean Shipping Company (MSC) said on Dec. 16 its ships would not transit through the Suez Canal, with some already rerouted via the Cape of Good Hope, a day after two ballistic missiles were fired at its vessel.
OCEAN NETWORK EXPRESS
Ocean Network Express (ONE), a joint venture of Japan’s Mitsui O.S.K. Lines, Nippon Yusen and Kawasaki Kisen Kaisha, said on Dec. 19 it would reroute vessels away from the Suez Canal and the Red Sea. Instead, its ships will navigate around the Cape of Good Hope or temporarily pause their journey and move to safe areas.
OOCL
The Hong Kong-headquartered container group said on Dec. 21 it had guided its vessels to either divert route or suspend sailing to the Red Sea. The company, owned by Orient Overseas (International) Ltd, has also stopped cargo acceptance to and from Israel until further notice.
WALLENIUS WILHELMSEN
The Norwegian shipping group said on Dec. 19 it would halt Red Sea transits until further notice. Rerouting vessels via the Cape of Good Hope will add 1-2 weeks to voyage durations, it said.
YANG MING MARINE TRANSPORT
The Taiwanese container shipping company said on Dec. 18 it would divert ships sailing through the Red Sea and the Gulf of Aden via the Cape of Good Hope for the next two weeks.
Source: Economy - investing.com
