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Shipping firms react to Houthi attacks in Red Sea

Houthi militants in Yemen have actually stepped up attacks on vessels in the Red Sea, impacting a shipping route important to eastwest trade.

Some shipping companies have actually responded by instructing vessels to sail around southern Africa instead, a longer and for that reason more pricey route.

Below are actions taken by business (in alphabetical order):

C.H. ROBINSON

The international logistics group stated on Dec. 22 it had actually rerouted more than 25 vessels around Africa over the previous week, and that number was likely to grow.

CMA CGM

The French shipping group has suspended most Red Sea trips however is still sending some freights on a case by case basis when French navy escorts were possible, Chairman and CEO Rodolphe Saade stated on Feb. 29.

The company anticipates disruptions to commercial shipping to last months.

DIANA SHIPPING

The business's vessels are preventing the Suez Canal.

Suez Canal transits are running about 40% below those seen during the very first half of December in 2015. This is partially the result of several operators including ourselves avoiding the location, President Anastasios Margaronis said on Feb. 23.

EURONAV

The Belgian oil tanker company said on Dec. 18 it would avoid the Red Sea until more notification.

EVERGREEN

The Taiwanese container shipping line said on Dec. 18 its vessels on regional services to Red Sea ports would sail to safe waters close by, while ships scheduled to travel through the Red Sea would be rerouted around Africa.

FRONTLINE

The Norway-based oil tanker group on Dec. 18 said its vessels would prevent the Red Sea and the Gulf of Aden.

GRAM CAR PROVIDERS

The Norwegian car provider said on Dec. 21 its vessels were limited from passing through the Red Sea.

HAFNIA

The Norwegian shipping firm stated on Jan. 12 it had actually halted all ships heading towards or within the Bab al-Mandab Strait.

HAPAG-LLOYD

The German container shipping line said on March 14 the Red Sea disruptions and worldwide vessel oversupply would force it to cut costs in 2024, including adjusting cruisings.

The company, which had chosen in January to reroute its vessels around Africa until additional notification, warned the impact of the rerouting will appear in the first quarter.

HMM

The South Korean container carrier stated on Dec. 19 it had bought its ships which would normally utilize the Suez Canal to reroute around Africa.

HOEGH AUTOLINERS

The Norwegian auto carrier stated on Dec. 20 it would stop sailing by means of the Red Sea.

On Feb. 8 the company said that the Red Sea disturbances were adversely affecting its capability and volumes.

KLAVENESS COMBINATION CARRIERS

The Norway-based fleet operator stated on Jan. 16 it would not trade any of its vessels through the Red Sea up until the scenario improves.

KUEHNE + NAGEL

Swiss logistics group Kuehne + Nagel said on March 1 it anticipates the impact from the Red Sea crisis to last into the coming quarters and impact its Q2 EBIT in a low double-digit million Swiss francs range.

MAERSK

The Danish shipping group on Jan. 5 suspended Red Sea traffic for the foreseeable future. Maersk stated on May 6 that the disruption to container shipping traffic is increasing and is anticipated to decrease the industry's capacity between Asia and Europe by some 15% -20% in the second quarter. On May 2 it projection the disturbances to last a minimum of until the end of 2024.

MSC

Mediterranean Shipping Business (MSC) said on Dec. 16 its ships would not transit through the Suez Canal.

NIPPON YUSEN

Japan's biggest carrier by sales suspended navigation through the Red Sea for all vessels it runs, a spokesperson told on Jan. 16.

OCEAN NETWORK EXPRESS

The joint venture in between Japan's Kawasaki Kisen Kaisha , Mitsui O.S.K. Lines and Nippon Yusen, said on Dec. 19 it would reroute vessels from the Red Sea to the Cape of Great Hope or temporarily pause journeys and move to safe locations.

OOCL

The Hong Kong-headquartered container group said on Dec. 21 it had instructed its vessels to either divert away from the Red Sea or suspend sailing. It also stopped accepting freight to and from Israel up until additional notice.

STAR BULK

Star Bulk's CEO said on Feb. 13 the Greece-headquartered company would halt cruisings through the Red Sea after Yemen's. Iran-aligned Houthis attacked two of its ships.

TAILWIND SHIPPING LINES

The Lidl system, which transfers non-food goods for the. discount grocery store chain and items for third-party consumers,. stated in December it was cruising around Africa for now.

TORM

The Danish oil tanker group said on Jan. 12 it had actually decided. to stop briefly all transits through the southern Red Sea in the meantime.

WALLENIUS WILHELMSEN

The Norwegian shipping group said on Dec. 19 it would stop. Red Sea transits up until further notification.

YANG MING MARINE TRANSPORTATION

The Taiwanese container shipping business stated on Dec. 18 it. would divert ships through the Cape of Great Wish for the next 2. weeks. It has actually provided no further upgrade.

(source: Reuters)