Shippers have diverted over $30 billion worth of cargo away from the Red Sea due to the threat of attacks from Houthi militants in Yemen.
Vessels are being re-routed as a result of 15 strikes in the Middle Eastern body of water since the start of the Israel-Hamas war in October. U.S. Defense Secretary Lloyd Austin has announced the formation of an international task force to address security concerns.
Specifics of the U.S.-led operation have yet to be confirmed. Dan Mueller, lead analyst for the Middle Eastern Region at maritime security firm Ambrey, advises clients to continue implementing Best Management Practices, including thorough checks of their vessel fleet’s current and past affiliations, Transit Risk Assessment for the vessel, crew emergency preparedness, and other safety measures.
Currently, 57 container vessels are taking the longer route around Africa instead of passing through the Red Sea and the Suez Canal, according to…
2023-12-19 20:41:45
Source from www.cnbc.com