Denmark’s Maersk (MAERSKb.CO) announced on Thursday it had rerouted four of five container ships trapped in the Red Sea back towards the Suez Canal and Africa to avoid the risk of attack.
Yemen-based Houthi militants have recently targeted a number of ships in the southern Red Sea, including a Maersk vessel on Saturday. That disrupted global trade and sparked fears of a new spike in global inflation as shipping rates soared.
Maersk, which last week attempted to resume Red Sea voyages after a break, announced on Tuesday that its container ships would again avoid the route, which provides access to the Suez Canal, a shortcut between Asia and Europe.
Five Maersk ships bound for Asia had already crossed the canal from the north and were ready to head south past Yemen when a pause was declared, leaving crews and tens of thousands of containers in limbo.
The Maersk Genoa, Maersk Londrina, Ebba Maersk and Gjertrum Maersk container vessels, which had been in the Red Sea south of the Saudi port of Jeddah in recent days, were diverted around the Cape of Good Hope on Thursday. The fifth ship, Maersk Utah, which was also stuck in the area, has not yet changed its route, but a Maersk spokesman stated that it would not sail past Yemen.
Last month, Maersk stated that it had introduced a transit disruption surcharge (TDS) and a peak season surcharge (PSS), adding a total of $700 to the cost of a standard 20-foot container travelling from China to Northern Europe.
Sending ships back through the Suez Canal would entail new fees, significant delays and additional fuel costs for the journey around the Cape of Good Hope.
The Suez Canal is used by about one-third of the world’s containerised cargo vessels. Diverting ships around the southern part of the African continent is expected to cost up to $1 million in additional fuel costs for each round trip between Asia and northern Europe.
