World News
Maersk, Hapag-Lloyd Halt All Container Shipments Through Red Sea After Attacks
Container lines AP Moller-Maersk and Hapag-Lloyd is set to halt all container shipments through the Red Sea in response to growing threats to commercial shipping in the region.
Maersk will send vessels on the longer route around Africa rather than traversing the Red Sea, news agency Reuters reported on Friday, citing a spokesman for the company.
Hapag-Lloyd is pausing all container ship traffic through the Red Sea, broadcaster Sky News reported, citing comments from the company.
The move is likely to boost global bunker demand, in particular in South Africa, if other shipping firms follow suit.
"Following the near-miss incident involving Maersk Gibraltar yesterday and yet another attack on a container vessel today, we have instructed all Maersk vessels in the area bound to pass through the Bab al-Mandab Strait to pause their journey until further notice," the Maersk spokesman was cited as saying.
"Hapag-Lloyd will take additional measures to secure the safety of our crews," Sky cited a Hapag-Lloyd representative as saying.
"Hapag-Lloyd is pausing all container ship traffic through the Red Sea for the time being."
A missile was fired at the Maersk Gibraltar in the Baab al-Mandab at the entrance to the Red Sea on Thursday. On Friday Hapag-Lloyd's 14,993 TEU container ship Al Jasrah was hit by a projectile fired from a Houthi-controlled area of Yemen.
Commercial shipping in the Red Sea has increasingly come under attack in recent weeks amid worsening conflict in Gaza,
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 624.50 | 1.00 | 732.00 | 8.50 |
| Rotterdam | 571.00 | 3.00 | 758.00 | 16.50 |
| Houston | 591.50 | 4.00 | 760.00 | 5.50 |
| Fujairah | 629.00 | 0.50 | 877.50 | 3.00 |
| Global 20 Ports Average | 637.00 | 0.00 | 819.00 | 3.00 |
| Global 4 Ports Average | 604.00 | 0.00 | 782.00 | 5.50 |
| Global Average Bunker Price | 688.00 | 2.50 | 879.00 | 1.00 |
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