Currently, delays to global trade are caused by hundreds of ships diverting around Africa to avoid attacks in the Red Sea. These delays are set to inflict months of disruption and imminent price rises on supplies of household items and foodstuffs.
According to new figures, no less than 350 ships – more than half of the total that would normally travel through the Red Sea and the Suez Canal – are now re-routing around the Cape of Good Hope, adding up to 10 days and £1.6 mln in extra costs to scheduled voyages between Asia and Europe. Fruit, meats, seafood, grains, wine, tea, coffee, and much more will be affected as a result of the disrupted traffic.
Maersk, the world’s second-largest container shipping company by capacity, on Tuesday night announced it was extending a 48-hour halt to vessels passing through the Red Sea after one of its ships was attacked on Sunday. The Danish-owned carrier said it was assessing a “constantly evolving situation” on the trade route and gave no indication when vessels might resume journeys through the Suez Canal.
Source: inews.co.uk