Due to the tense situation in the Red Sea, shipowners are taking it in turns to suspend transit through the Suez Canal until further notice.

In recent days, increased preventive measures have been taken to ensure the safety of vessels and their crews moving through these waters. Unfortunately, the situation is deteriorating and safety concerns are growing.

The world’s largest shipowners have announced in just a few days that they are suspending shipping through the Suez Canal and the Red Sea. The decisions were made as a result of a series of attacks that have been carried out against ships from an area of Yemen controlled by Huti (a rebel movement backed by Iran). The group has declared support for Hamas and threatens to attack all ships bound for Israel.

MSC, Maersk, Hapag Lloyd, ZIM and CMA CGM have diverted ships to a route around the Cape of Good Hope. The new route means sailing 10 days longer, but delays in container deliveries are likely to increase further.

It is too early to make a clear assessment of the impact this will have on international shipping, but the situation appears to be extremely difficult. The Suez Canal is a key artery in global logistics. As was the case in March 2021, when the container ship Ever Given ran aground, the blockages could generate global disruptions to container ship traffic, leading to delays in the delivery of daily goods around the world. Expect delays and higher transportation prices.