On Tuesday local time, international shipping giant Maersk announced that its suspension of all cargo ships crossing the Red Sea will continue. This means that the continued obstruction of the crucial “Asia Europe shipping route” for international trade will inevitably lead to a surge in international shipping prices.
The situation in the Red Sea region has become increasingly tense recently. Over the past weekend, global container shipping giant Maersk was attacked by Houthi militants in Yemen; Subsequently, the US Navy sank three Houthi armed ships; In response, Iran dispatched another warship to the waters of the Red Sea on Monday local time. This has once again led several shipping companies that had previously resumed the Red Sea route to decide to suspend operations.
On Tuesday local time, Maersk announced the suspension of all ships crossing the Red Sea until further notice. Its competitor, German shipping company Herberger, has previously stated that it will direct its ships to avoid the Red Sea route.
The Suez Canal and the Red Sea route are key Asia Europe shipping routes. Previously, many shipping companies had to divert to the Red Sea due to the slow sailing caused by the drought in the Panama Canal. Now, shipping companies are once again facing the challenge of diversion. Many industry insiders have expressed that they may choose a route that passes through the Cape of Good Hope in Africa, but this is a longer and more expensive route. As a result, international shipping prices have also increased.
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