Major global shipping companies, including Maersk and CMA CGM, are set to levy additional charges as they reroute vessels in response to recent attacks in the Red Sea, heightening concerns about disruptions to worldwide trade.
These surcharges, implemented to offset the extended voyages around Africa compared to the traditional Suez Canal routes, contribute to the escalating costs of maritime transport since the Houthi militant group’s targeting of vessels off the coast of Yemen.
Maersk and CMA CGM were the initial carriers to introduce these fees, with Germany’s Hapag-Lloyd following suit later.
These companies, among the foremost in the industry, have temporarily halted the passage of vessels through the Red Sea, a crucial link to the Suez Canal, which is the fastest route connecting Asia and Europe.
Instead of navigating through the Red Sea, they are diverting ships around the Cape of Good Hope at the southern tip of Africa, adding approximately 10 days to the journey that would typically take around 27 days from China to northern Europe.
