On January 5, Maersk (MAERSK-B.CO), the world’s second largest container shipping company, announced that in the foreseeable future, all Maersk ships passing through the Red Sea/Gulf of Aden will sail south around the Cape of Good Hope.
This means that the 37 pending ships announced by Maersk on January 4 will also be diverted to the Cape of Good Hope. Against this backdrop, many shippers are choosing to delay shipments due to growing challenges. The “double crisis” in the Red Sea and Panama has led to increased congestion and soaring freight rates that may last for years.
A worsening of the situation appears to be extending delays, leaving shippers and consignees facing longer delivery times and higher transportation costs. It is reported that the total number of Maersk ships taking alternative routes will exceed 170.
Maersk believes that the situation is constantly changing and highly unstable conditions persist. All available intelligence confirms that security risks continue to escalate significantly. While the suspension of Red Sea/Gulf of Aden transits will extend ship delivery times, Maersk believes it will provide customers with a more consistent and predictable situation. In addition, Maersk stated that the previously announced Transport Disruption Surcharge (TDS), Peak Season Surcharge (PSS) and Emergency Cargo Surcharge (ECS) for blocked ships in the Red Sea/Gulf of Aden region remain in effect. In addition, Maersk also announced the launch of a new peak season surcharge (PSS), with an effective date of January 8, 2024 for cargo from the Far East (excluding Vietnam and Taiwan) to West Africa, and an effective date of January 8, 2024 for cargo from Vietnam to West Africa. January 18th. 2024 from Taiwan to West Africa, February 2, 2024, prices ranging from US$100 to US$600 (prices vary by container type).
Nonetheless, geopolitical risks remain the primary challenge in the current export container shipping market. Tensions in the Red Sea region have not yet eased, and freight rates in the Asia-Europe route market may continue to rise.
In view of this situation, it is recommended that everyone prepare for a rainy day, reserve transportation time, and arrange backup plans.
What are your thoughts on this? Welcome to leave a message for discussion.
Post time: Jan-10-2024