The global shipping industry is bracing for the possibility that some of its most important shipping routes will be bypassed for weeks.
The U.S. is working to form a military force to stop the Iranian-backed Houthi group from attacking commercial ships off the coast of Yemen, but the shipping industry is still waiting for details and is concerned about its implementation. The Houthis have attacked ships in a show of support for the Islamic group Hamas, which fights Israel, and some in the region fear that too strong a response will only escalate the violence.
Shipping companies are proceeding with operations on circuitous routes around Africa. Each voyage costs $1 million (approximately 144 billion yen) and takes an extra 7 to 10 days. Oil prices are rising.
In 2021, a large container ship ran aground in the Suez Canal, leaving it stranded for a week and disrupting global trade for months, but this time it threatens to lead to an even more serious and ongoing emergency for the shipping industry. be.Ships transporting everything from oil to grain to cars are forced to sail around Africa, adding costs and delays to the global economy at a time when inflation appears to be calming.
Hapag-Lloyd CEO Rolf Habben Janssen speaks on Bloomberg TV
Source: Bloomberg
Rolf Habben-Janssen, CEO of German container shipping company Hapag-Lloyd, which suspended operations in the Red Sea, told Bloomberg Television: “If all goes well, it could be over in a few days or weeks. “Of course, there are scenarios in which it may take longer.”
Conflict Builds Around the Red Sea
Incidents of attack or capture in recent weeks against vessels in the Red Sea and the wider region
Source: Ambrey Analytics
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news-rsf-original-reference paywall">Original title:Shippers Dig In for Long Haul as Red Sea Chaos Worsens(excerpt)
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2023-12-19 22:20:00
