US EditionShipping Companies Divert Vessels Around Cape of Good Hope After Strikes on Iran
Major shipping firms reroute vessels around Africa, imposing surcharges and suspending Middle East bookings after US-Israel strikes on Iran disrupted key trade routes, affecting 2.5 million container units.
- On March 2, major shipping lines including Maersk and MSC rerouted vessels around the Cape of Good Hope, suspending sailings through the Red Sea and Suez Canal.
- Following the weekend escalation, US and Israeli military strikes on Iran on Saturday prompted shelter orders and warnings that closed a narrow passage carrying around a fifth of global oil consumption, with CMA CGM instructing vessels to proceed to shelter.
- Analysts warn that rerouting ships around Africa adds costs, with capacity absorption of roughly 2.5 million TEUs and surcharges up to $4K per container announced by CMA CGM and Hapag-Lloyd, as shipping costs mount.
- With 18% of global air freight capacity removed, FedEx and Qatar Airways Cargo suspended operations in Gulf countries, while container shipments face rerouting and delays.
- Analysts including Peter Sand warn that the escalation raises concerns about how Red Sea trade flows will be reshaped this year after two years of Houthi attacks, as ships now avoid the area for short periods, Sand said.
20 Articles
20 Articles
Shipping Companies Begin Diverting Vessels Away From Middle East
Major shipping companies have announced they are diverting their vessels away from Middle Eastern sea routes amid the ongoing conflict in Iran, with some operators opting to go around the Cape of Good Hope in South Africa. The U.S. and Israeli militaries launched coordinated strikes on Iran on Feb. 28, with Tehran retaliating against its neighboring Gulf nations. Maersk, CMA CGM Group, Hapag-Lloyd, and Mediterranean Shipping Company—some of the …
Business Insider
The New York LedgerTons of goods are stuck around the Middle East amid shipping and air chaos
Major shipping lines are rerouting vessels amid escalating security risks in the region.Giuseppe Cacace AFP/Getty ImagesUS-Israel military strikes on Iran are disrupting global supply chains, affecting critical trade routes.Major shipping lines are rerouting, suspending services, and adding war risk fees.Air cargo is in chaos as closed Middle East airspace cripples freight capacity and flight networks.Global supply chains are on edge after the U…
Shipping giant Maersk halts Suez Canal, Bab el-Mandeb sailings amid escalating conflict
Shipping giant Maersk has halted its operations and sailings in the wake of the US-Israel-Iran latest conflicts. Due to the deteriorating security situation in the Middle East region following the...
Three of the world's largest shipping companies are avoiding shipping lanes near the Arabian Peninsula due to the military conflict in the Middle East.
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