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Factbox-Shipping firms respond to Houthi attacks in Red Sea

Published 08/01/2024, 09:35 AM
Updated 08/01/2024, 10:06 AM
© Reuters. FILE PHOTO: Containers are seen stacked up on the container ship CMA CGM Benjamin Franklin at the port of Antwerp, Belgium September 23, 2022. REUTERS/Yves Herman/File Photo

(Reuters) -Attacks on vessels in the Red Sea by Iran-aligned Houthi militants have disrupted a shipping route vital to east-west trade, with prolonged rerouting of shipments pushing freight rates higher and causing congestion in Asian and European ports.

Below are actions taken by some shipping companies (in alphabetical order):

CMA CGM

The French shipping group has suspended most Red Sea voyages but is still sending some cargoes on a case by case basis when French navy escorts are possible, Chairman and CEO Rodolphe Saade said in February.

DIANA SHIPPING

The company's vessels are avoiding the Suez Canal.

"Suez Canal transits are running about 40% below those seen during the first half of December last year. This is partially the result of several operators including ourselves avoiding the area," President Anastasios Margaronis said in February.

DSV

The world's third-largest freight forwarder DSV said on July 24 that higher freight volume boosted earnings in the second quarter. It also expects a positive impact from the disruptions in the second half of the year.

EURONAV

The Belgian oil tanker firm said in December it would avoid the Red Sea until further notice.

EVERGREEN

The Taiwanese container shipping line said in December its vessels on regional services to Red Sea ports would sail to safe waters nearby, while ships scheduled to pass through the Red Sea would be rerouted around Africa.

FRONTLINE

The Norway-based oil tanker group said in December its vessels would avoid the Red Sea and the Gulf of Aden.

GRAM CAR CARRIERS

The Norwegian auto carrier said in December its vessels were restricted from passing through the Red Sea.

HAFNIA

The Norwegian shipping firm said in January it had halted all ships heading towards or within the Bab al-Mandab Strait.

HAPAG-LLOYD

The German container shipping line decided in January to reroute its vessels around Africa until further notice.

It said in June it did not expect the industry to resume sailing in the Red Sea even if a ceasefire between Hamas and Israel was reached immediately.

It has also said the disruptions and global vessel oversupply would force it to cut expenses in 2024, including adapting sailings.

HMM

The South Korean container shipper in December ordered ships that would normally use the Suez Canal to reroute around Africa.

HOEGH AUTOLINERS

The Norwegian auto carrier said in December it would stop sailing via the Red Sea. In February, it said the disruptions were adversely impacting its capacity and volumes.

KLAVENESS COMBINATION CARRIERS

The Norway-based fleet operator said in January its vessels would avoid the Red Sea until the situation improves.

KUEHNE + NAGEL

The Swiss logistics group said in March it expected the impact from the disruptions to last into the coming quarters.

It said on July 23 the impact on its business was "minimal", and it was ready for higher second-half demand after increased use of its Sea-Air Logistics service.

MAERSK

Maersk said on Aug. 1 it expected the disruptions to continue at least until the end of 2024, as it raised its full-year outlook again partly due to the crisis.

The Danish group, which has suspended Red Sea traffic, said in July it was experiencing a cascading impact from disruptions in the region, with congestions to its entire ocean network.

MSC

Mediterranean Shipping Company (MSC) said in December its ships would not transit through the Suez Canal.

NIPPON YUSEN

Japan's biggest shipper by sales suspended navigation through the Red Sea for all its vessels, a spokesperson told Reuters in January.

OCEAN NETWORK EXPRESS

The joint venture between Japan's Kawasaki Kisen Kaisha, Mitsui O.S.K. Lines and Nippon Yusen said in December it would reroute vessels around the Cape of Good Hope or temporarily pause journeys and move to safe areas.

OOCL

The Hong Kong-headquartered container group said in December it had instructed vessels to either divert away from the Red Sea or suspend sailing. It also stopped accepting cargo to and from Israel until further notice.

STAR BULK

Greece-headquartered Star Bulk's CEO said in February it would halt sailings through the Red Sea after attacks on two of its ships.

TAILWIND SHIPPING LINES

The Lidl unit, which transports non-food goods for the discount supermarket chain and goods for third-party customers, said in December it was sailing around Africa for now.

TORM

The Danish oil tanker group in January paused all transits through the southern Red Sea for the time being.

© Reuters. FILE PHOTO: Containers are seen stacked up on the container ship CMA CGM Benjamin Franklin at the port of Antwerp, Belgium September 23, 2022. REUTERS/Yves Herman/File Photo

WALLENIUS WILHELMSEN

The Norwegian shipping group said in December it would halt Red Sea transits until further notice.

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