Amid rising tensions fuelled by Houthi rebels in Yemen, the Red Sea has seen an escalation in attacks on commercial vessels, particularly those linked to Israel. At present, major shipping companies, including OOCL, COSCO, EMC, ONE, and YML, have declared the suspension of services to both Ashdod and Haifa ports.
It’s important to note that ZIM, MSK, and MSC have not officially announced a service suspension and are currently accepting cargo as usual. However, it remains a possibility that they may suspend services if the situation further deteriorates.
Responding to the volatile conditions, shipping lines have also announced a shift in routes, opting for the Cape of Good Hope over the Suez Canal. This adjustment is anticipated to lead to increased freight costs and prolonged transit times for several routes.
Furthermore, it is important to take note of a surcharge that has been implemented on specific shipping lines operating between the Indian Sub-Continent (India, Pakistan, Bangladesh, Sri Lanka) and the regions of Europe, Scandinavia, Baltic, Mediterranean, Adriatic, and Black Sea.
This adjustment has been applied to account for the additional costs incurred and challenges posed by the current situation.
Please be advised that the increase in freight rates will be applicable to shipments during January and will be implemented by the relevant shipping lines. We understand that this may have an impact on your shipping costs, and we appreciate your understanding and cooperation during this challenging period.
We will continue to closely monitor the situation and provide updates to our valued customers. If you have any inquiries or need assistance, please feel free to contact us.