EMEA News
Maersk CEO Sees Red Sea Disruption Lasting 'A Few Months at Least'
The current disruption to global shipping from Houthi attacks off Yemen's coast can be expected to last at least a few months, according to container line AP Moller-Maersk.
Maersk CEO VIncent Clerc discussed the situation at a Reuters event in Davos on Wednesday.
"So for us this will mean longer transit times and probably disruptions of the supply chain for a few months at least, hopefully shorter, but it could also be longer because it's so unpredictable how this situation is actually developing," Reuters cited Clerc as saying.
Commercial ships operating near Yemen have been coming under attack from the country's Houthi movement over the past two months in a response to the conflict in Gaza.
Several leading shipping companies are now avoiding the region altogether, taking longer routes around Africa rather than using the Suez Canal. This is likely to deliver a significant boost to bunker demand and freight markets while the current situation continues.
Maersk briefly resumed Red Sea voyages over Christmas, but then reversed the decision in late December following another attack on one of its vessels.
