Tags: maersk | red | sea | attacks

Maersk: Impact From Red Sea Attacks Intensifying

Maersk: Impact From Red Sea Attacks Intensifying
An Egyptian soldier stands guard near the Suez Canal as an American container ship crosses the Suez Canal in Ismailia, Egypt, (Amr Nabil/AP)

Thursday, 05 September 2024 08:19 AM EDT

The negative impact on maritime shipping and global supply chains from attacks in the Red Sea continues to intensify as traffic is rerouted away from the Suez Canal, Danish shipping company A.P. Moller-Maersk said on Thursday.

Attacks in the Red Sea by Iran-aligned Houthi militants have disrupted a route vital to east-west trade, with prolonged rerouting of shipments, pushing freight rates higher and causing congestion in Asian and European ports.

Maersk said recent data showed that the number of ships crossing through the canal has fallen 66% since carriers began diverting their vessels around Africa. Maersk did not elaborate on the data.

"These disruptions have led to service reconfigurations and volume shifts, straining infrastructure and resulting in port congestion, delays, and shortages in capacity and equipment," it added.

Maersk in July said disruption to its container shipping via the Red Sea had extended beyond trade routes between the Far East and Europe to its entire global network, and warned of a "cascading impact" causing congestion.

"The timeline for easing these disruptions and returning to 'normal' remains uncertain," it said on Thursday.

It added that demand for container shipping remains robust.

© 2024 Thomson/Reuters. All rights reserved.


StreetTalk
The negative impact on maritime shipping and global supply chains from attacks in the Red Sea continues to intensify as traffic is rerouted away from the Suez Canal, Danish shipping company A.P. Moller-Maersk said Thursday.
maersk, red, sea, attacks
190
2024-19-05
Thursday, 05 September 2024 08:19 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved