World News
Maersk Pauses Red Sea Voyages for 48 Hours After Attacks
Container line AP Moller-Maersk has paused all shipments through the Red Sea for 48 hours after one of its ships was attacked twice over the weekend.
The company plans to hold off on Red Sea transits until January 2, it said in a note to customers on Sunday.
The 15,282 TEU Maersk Hangzhou was hit by a missile in the Red Sea on Saturday evening and then came under fire from small boats in a separate incident in the early hours of Sunday morning.
"Maersk is currently working to ascertain the full details of the incident involving Maersk Hangzhou," the company said.
"We are in close dialogue with the OPG naval operation and authorities to assess the security level in the area and any potential impact to our voyage plans.
"We expect to provide our customers with an update and more information on 2 January 2024 at the latest."
Maersk had announced a week earlier that it would resume using the Red Sea and Suez Canal after the establishment of Operation Prosperity Guardian to improve maritime security in the region, while other leading shipping companies have decided the route is still too risky.
The rerouting of ships away from the Red Sea and on longer voyages around Africa is likely to deliver a significant boost to global bunker demand.
Maersk is the world's second-largest container line by capacity.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.50 | 1.50 | 666.50 | 3.50 |
| Rotterdam | 515.00 | 1.50 | 662.50 | 0.50 |
| Houston | 542.50 | 5.00 | 656.50 | 2.00 |
| Fujairah | 560.50 | 6.50 | 742.00 | 4.50 |
| Global 20 Ports Average | 585.00 | 3.00 | 749.50 | 1.00 |
| Global 4 Ports Average | 547.50 | 3.50 | 682.00 | 0.50 |
| Global Average Bunker Price | 634.00 | 2.00 | 805.50 | 1.50 |
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