Maersk vessel named Hangzhou has been attacked on December 30th, 2023 while travelling through the Red Sea with the intention of going through the Suez Canal. Ongoing security concerns in the Red Sea are affecting shipping lines navigating from Asia to North America and Europe because -despite US Navy presence- Yemen-backed Houthi rebels remain a threat to container vessels.
While Maersk and CMA CGM plan to resume Red Sea transits, Hapag-Lloyd and MSC continue detours around the Cape of Good Hope. Uncertainty looms from Asian shipping lines, including Evergreen, Yang Ming, Wan Hai, and COSCO, following the December 30th, 2023 attack of the Maersk vessel Hangzhou.
The situation is further complicated by heightened missile and drone launches by Yemen-backed Houthi rebels, prompting increased risks and compensation rules for seafarers. The missile striking of Maersk Hangzhou and the subsequent small boat attack led to a 48-hour suspension of Red Sea transits by Maersk. This marked the 23rd illegal attack by the Houthi rebels on international shipping vessels since the November 19, 2023 hijacking of the Galaxy Leader car carrier, creating uncertainties for shipping operators.
As the New Year 2024 begins and the Chinese New Year approaches, buyers and importers in North America and Europe are pressured by rising costs.
For specific information on risk mitigation, contact our Canaan Sales team.
- FreightWaves. (2023). “How Safe is the Red Sea? Different Shipping Lines Have Different Answers.” Retrieved from https://www.freightwaves.com/news/how-safe-is-red-sea-different-shipping-lines-have-different-answers.
- gCaptain. (2023). “Maersk Ship Hit by Missile in the Red Sea.” Retrieved from https://gcaptain.com/maersk-ship-hit-by-missile-in-the-red-sea/.