Since November of last year, ships in the Red Sea and the Gulf of Aden have been regularly attacked. These attacks pose a risk to global supply chains, which are heavily reliant on container traffic through the Suez Canal.
To avoid the risks, Maersk and CMA CGM have decided to reroute their ships via the Cape of Good Hope. This results in longer transit times, which could increase by 2 to 3 weeks. These changes are expected to put pressure on rates, especially as available transport capacity decreases. Additionally, the mispositioning of ships and containers could lead to congestion in ports and further delays. While some ports may experience more pressure in the coming weeks, the effects are expected to be less severe than during the Covid-19 period.
