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- As the tensions continue to grow in the Suez Canal with ocean carriers unable to complete safe passage. Yemen rebel forces confirmed they will in fact continue to target carriers as they believe these ships may be providing aide in the ongoing war and want to stop supplies from moving through this area. This comes as many carriers were forced to park their vessels to ensure safety after multiple vessels were struck with projectiles (believed missiles).
- This comes after Malyaia has announced a temporary ban on ZIM (an Israeli shipping company) from docking in the country for 4 weeks. This eliminates a carrier option from trade for cargo coming from Malaysia and will likely cause an increase in shipping costs for any shipments from this location with lower available options.
- With these major changes affecting the trade route from Asia to the US this will have a major impact on overall costs as well as shipping time for all cargo via this trade route. It has been estimated by analysts that Red Sea Detours alone will likely face a 30% increase in transit time. Additionally for those vessels already in and near the canal that were not able to be rerouted will likely be waiting until tensions ease.
As missiles continue to be a threat for carriers at the Red Sea major delays and increased costs are becoming a headache for the Asia to US trade route.
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