Ships Avoiding Red Sea As Rates Escalate

December 20, 2023

Ships Avoiding Red Sea As Rates Escalate

Following Friday’s attacks on at least two container ships in the Red Sea area, Maersk Line, CMA CGM and some other carriers have decided to route ships around the Cape of Good Hope to avoid the Red Sea area and the Suez Canal.

One of the attacks was a Hapag Lloyd container ship that was hit by missile launched from within Yemen and set ablaze.

So far, over 100 ships have either been paused awaiting orders, or rerouted via Africa, which adds 10-12 days to transit times for Asia European journeys.

As a direct result, Asia origin spot rates have been rising fast this week and an Emergency Peak Season Surcharge is being implemented by several carriers, which will be in addition to the recent and scheduled GRI’s.

There will be some disruption to schedules in the next few weeks and market conditions are uncertain. Some reports suggest that an extended period of vessels being routed around Africa will result in capacity issues and equipment shortages.

The team at Unique will be keeping a close eye on developments and will notify customers directly of rate changes. Should you require further information, then please do not hesitate to contact us.


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