The world’s top three container operators said they fear instability in Gaza and broader regional tensions mean continued danger.
The world’s top three container shippers, MSC Mediterranean Shipping, A.P. Møller-Maersk (OTCPK:AMKBY) (OTCPK:AMKBF) and CMA CGM, have said in recent days they will not send vessels back to the Red Sea despite a pledge by Houthi militants in Yemen not to attack them as long as a ceasefire in Gaza holds.
French shipping and logistics group CMA CGM will continue to avoid the Red Sea even though it considers the region is more stable following the ceasefire agreement between Israel and Hamas, it said on Saturday.
CMA CGM, the French container line that has continued to transit the Red Sea despite attacks on shipping, said it will continue to route most of its affected services away from the region.
Yemen’s Iran-backed Houthi movement has released the crew of a cargo ship more than a year after its fighters hijacked the vessel in the Red Sea, as part of its campaign of attacks in support of Hamas in its war against Israel.
Red Sea shipping remains risky despite the Gaza ceasefire and an announcement by Yemen’s Houthis to limit attacks, according to the CEO of Abu Dhabi National Oil Company's logistics and shipping arm.
U.S. Navy destroyers and cruisers needing to leave the ongoing battle against Iran-backed Houthi rebel missile and drone barrages in the Red Sea to reload their Mk 41 Vertical Launching System (VLS) missile cells are causing a presence gap and “a real challenge,
Operations at a Red Sea port in Yemen used for aid imports have fallen to about a quarter of its capacity, a UN official said on Tuesday, adding it was not certain that a Gaza ceasefire would end attacks between the Iran-backed Houthis and Israel.
If President Donald Trump’s personnel moves are any tell, he may come out of the gate toward Iran with a tone that is more diplomatic than combative.
Israel and Hamas agree to a ceasefire, raising questions as to when major container lines will return to the Red Sea.
The move will authorize harsher penalties on the Iran-backed group, which has attacked Israel and disrupted global shipping trade in the Red Sea for over a year.
US President Donald Trump's decision to re-designate Yemen's Huthi rebels as a foreign terrorist organisation could have deep implications for aid and the peace process in the war-shattered country. Former US president Joe Biden removed the Huthis from the foreign terrorist list after humanitarian groups protested that they could not get aid to Yemen's needy without dealing with the rebels.