Ships in the Red Sea and Gulf of Aden have faced repeated attacks since November. These incidents pose a risk to global logistics chains that depend heavily on container traffic through the Suez Canal.
To avoid the risks, Maersk and CMA CGM rerouted vessels around the Cape of Good Hope. This can add two to three weeks to transit times. Rates are expected to come under further pressure as available transport capacity falls. The changed positioning of vessels and containers can also cause port congestion and additional delays. Some ports may face greater pressure in the coming weeks, although the effects are expected to be less severe than during the Covid-19 period.