Current security risk affecting vessels in the southern Red Sea and the gulf of Aiden after several attacks by militants, thereby impacting routes passing through the Suez Canal.
Some shipping lines have already paused their vessels travelling via the Suez canal and Red Sea. Thus far over 100 vessels have either been delayed or re-routed rather than risk a red sea transit. Other shipping lines are expected to follow in the coming days.
Re-routed vessels will travel around Africa and will incur additional transit times. We fully expect to see price increases imposed by the shipping lines as they look to recover additional costs incurred.
