O&O Forwarding Srl would like to update you on the affected that the geopolitical instability situation in the Middle East is having on maritime services. On 14 December a drone struck a Maersk vessel off the coast of Yemen, on 15 December a bullet hit a Hapag Lloyd ship, leaving the Mediterranean, in the BΔb el-Mandeb Strait. These attacks in the Suez Canal area have obliged maritime companies to implement security measures to protect vessels and crews safety, forcing them to suspend transit from the Red Sea and the Suez Canal and to use alternative routes circumnavigating the African continent across the Cape of Good Hope, resulting in extended transit timeΒ both inbound and outbound from Europe.
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PROBLEMS DUE TO THE CRISIS
If the situation in the Middle East does not change quickly, the outcome could be:
– An extension of the transit time, 14 days approximately
– An increase in costs to support longer journeys
– The future introduction of a War Risk Surcharge
– Reduction of loading spaces
– Increase ocean freight rates
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Our company is constantly monitoring the situation with the aim of providing Β customers with the best possible service at fair price. In reporting the problem currently affecting the Suez Canal area, we would like to remind you that your representative at O&O Forwarding is available for further clarification.
