Hapag-Lloyd continues to avoid Suez Canal

Shipping - Hapag-Lloyd continues to avoid Suez Canal

Following attacks by Yemeni Huthi rebels in the Red Sea, the Suez Canal, an important artery of world trade, remains off-limits for ships of the Hamburg-based shipping company Hapag-Lloyd. A Hapag-Lloyd spokesman told Deutsche Presse-Agentur that the crisis management team decided on Friday to continue diverting freighters on the Asia-Europe trade via the Cape of Good Hope at the southern tip of Africa. "We will make the next assessment with further decisions on January 2."

Since the outbreak of the Gaza war, the Iran-backed Houthi rebels have repeatedly attacked Israel with drones and missiles, among other things, and have attacked ships in the Red Sea to prevent them from sailing towards Israel. Hapag-Lloyd's container freighter "Al Jasrah" and the "MSC Palatium III" were damaged in attacks. As a result, in addition to Hapag-Lloyd, industry leader MSC and shipping company Maersk also suspended sailings through the Suez Canal.

The Suez Canal connects the Mediterranean with the Red Sea, making it the shortest sea route between Asia and Europe. Around ten percent of all global trade passes through the Red Sea. The detours are likely to significantly delay deliveries. Estimates range from a few days to two weeks. However, experts do not expect any major disruptions to global supply chains, as was the case during the coronavirus pandemic.

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1. Despite the tension in the Middle East, Hapag-Lloyd, based in Hamburg, Germany, has chosen to bypass the Suez Canal due to security concerns.
2. The crisis team at Hapag-Lloyd decided on Friday to divert their ships around the Cape of Good Hope, adding days or even weeks to their journey through the Asia-Europe trade route.
3. The Suez Canal, connecting the Mediterranean Sea and the Red Sea, is a vital trade route for ships traveling between Asia and Europe, accounting for about 10% of global trade.
4. The attacks by the Houthi rebels in the Red Sea, backed by Iran, have not only affected Israel but have also brought shipping companies like Hapag-Lloyd, MSC, and Maersk to a standstill in the Suez Canal.
5. The attacks on ships in the Red Sea have been a part of the Houthi rebels' strategy to prevent ships from sailing towards Israel, adding to the ongoing conflicts in the Middle East.
6. The German Press Agency reported that Hapag-Lloyd's container freighter "Al Jasrah" and the "MSC Palatium III" were damaged in the attacks, forcing the company to reroute its vessels.
7. The busiest shipping lane in the world, the Suez Canal, witnessed an attack by the Houthi rebels earlier this year, causing significant disruptions to global shipping and trade.
8. The Houthi rebels, who have been in control of Yemen's Red Sea ports, have posed a significant challenge to shipping companies like Hapag-Lloyd and their operations in the region.
9. The longer routes around the Cape of Good Hope will impact the transport schedule and deliveries, possibly adding to the logistics and costs incurred by shipping companies like Hapag-Lloyd and other European and Asian companies.

Source: www.stern.de