Red Sea shipping disruptions impact Maersk's entire ocean network, causing congestion at alternative routes and transshipment hubs.
Denmark's AP Moller-Maersk reports Red Sea shipping disruptions have spread to its entire ocean network, causing congestion at alternative routes and transshipment hubs vital for trade with Far East Asia, West Central Asia, and Europe. Since December, Maersk and other shipping companies have diverted vessels around Africa's Cape of Good Hope to avoid Iran-aligned Houthi militant attacks, leading to longer voyage times and higher freight rates, with Asian exports especially affected.
July 17, 2024
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