Factbox: Shipping companies react to Houthi attacks in Red Sea

Gram Car Carriers ASA

14/03/2024 15:20

(Updates Hapag-Lloyd)
       March 14 (Reuters) - Houthi militants in Yemen have
stepped up attacks on vessels in the Red Sea region, impacting a
shipping route vital to east-west trade.
    In response, some shipping companies have instructed vessels
to instead sail around southern Africa, a longer and therefore
more expensive route.
    Below are actions taken by companies (in alphabetical
order):

    C.H. ROBINSON  CHRW.O 
    The global logistics group said on Dec. 22 it had rerouted
more than 25 vessels around Africa over the previous week, and
that number was likely to grow.
    
    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 were possible, Chairman and CEO Rodolphe
Saade said on Feb. 29.
    The company expects disruptions to commercial shipping to
last months.
    
    DIANA SHIPPING  DSX.N 
    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 on Feb. 23.
    
    EURONAV  EUAV.BR  
    The Belgian oil tanker firm said on Dec. 18 it would avoid
the Red Sea until further notice.

    EVERGREEN  2603.TW  
    The Taiwanese container shipping line said on Dec. 18 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  FRO.OL  
    The Norway-based oil tanker group on Dec. 18 said its
vessels would avoid the Red Sea and the Gulf of Aden.

    GRAM CAR CARRIERS  GCC.OL 
    The Norwegian auto carrier said on Dec. 21 its vessels were
restricted from passing through the Red Sea.

    HAFNIA  HAFNI.OL 
    The Norwegian shipping firm said on Jan. 12 it had halted
all ships heading towards or within the Bab al-Mandab Strait.

    HAPAG-LLOYD  HLAG.DE  
    The German container shipping line said on March 14 the Red
Sea disruptions and global vessel oversupply would force it to
cut expenses in 2024, including adapting sailings.
    The company, which had decided in January to reroute its
vessels around Africa until further notice, warned the impact of
the rerouting will show up in the first quarter.
    
    HMM  011200.KS  
    The South Korean container shipper said on Dec. 19 it had
ordered its ships which would normally use the Suez Canal to
reroute around Africa.

    HOEGH AUTOLINERS  HAUTO.OL 
    The Norwegian auto carrier said on Dec. 20 it would stop
sailing via the Red Sea.
    On Feb. 8 the company said that the Red Sea disruptions were
adversely impacting its capacity and volumes.

    KLAVENESS COMBINATION CARRIERS  KCCK.OL  
    The Norway-based fleet operator said on Jan. 16 it would not
 trade any of its vessels through the Red Sea until the
situation improves.

    KUEHNE + NAGEL  KNIN.S  
    Swiss logistics group Kuehne + Nagel said on March 1 it
expects the impact from the Red Sea crisis to last into the
coming quarters and impact its Q2 EBIT in a low double-digit
million Swiss francs range.
    
    MAERSK  MAERSKb.CO 
    The Danish shipping group on Jan. 5 suspended Red Sea
traffic "for the foreseeable future".
    On Feb. 8, it warned that container shipping overcapacity
would hit profits more than expected this year, and that it did
not see a major boost from the jump in freight rates due to
disruptions.
    On Feb. 27, the shipping company warned of disruptions to
container shipping via the Red Sea dragging into the second half
of the year and of heavy congestion and delays for U.S.-bound
goods.

    MSC
    Mediterranean Shipping Company (MSC) said on Dec. 16 its
ships would not transit through the Suez Canal.

    NIPPON YUSEN  9101.T  
    Japan's biggest shipper by sales suspended navigation
through the Red Sea for all vessels it operates, a spokesperson
told Reuters on Jan. 16. 
    
    OCEAN NETWORK EXPRESS
    Ocean Network Express, a joint venture between Japan's
Kawasaki Kisen Kaisha  9107.T , Mitsui O.S.K. Lines  9104.T  and
Nippon Yusen, said on Dec. 19 it would reroute vessels from the
Red Sea to the Cape of Good Hope or temporarily pause journeys
and move to safe areas.

    OOCL
    The Hong Kong-headquartered container group said on Dec. 21
it had instructed its vessels to either divert their route away
from the Red Sea or suspend sailing. It also stopped accepting
cargo to and from Israel until further notice.

    STAR BULK
    Star Bulk's CEO said on Feb. 13 the Greece-headquartered
company would halt sailings through the Red Sea after Yemen's
Iran-aligned Houthis attacked two of its ships.
    
    TAILWIND SHIPPING LINES
    Lidl unit Tailwind Shipping Lines, 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  TRMDa.CO 
    The Danish oil tanker group said on Jan. 12 it had decided
to pause all transits through the southern Red Sea for now.
  
    WALLENIUS WILHELMSEN  WAWI.OL  
    The Norwegian shipping group said on Dec. 19 it would halt
Red Sea transits until further notice.

    YANG MING MARINE TRANSPORT  2609.TW  
    The Taiwanese container shipping company said on Dec. 18 it
would divert ships sailing through the Red Sea and the Gulf of
Aden via the Cape of Good Hope for the next two weeks.
    The company has given no further update.

    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Type of goods shipped via the Suez route    https://tmsnrt.rs/3NBsrTC
Vessels re-routing around Africa    https://tmsnrt.rs/3NVTcCz
US, UK ship investors hit by soaring Red Sea insurance - sources
     urn:newsml:reuters.com:*:nL8N3EQ5MF
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 (Compiled by Paolo Laudani, Izabela Niemiec, Jesus Calero,
Louis van Boxel-Woolf, Tristan Veyet, Elsa Ohlen and Tomasz
Kanik in Gdansk; Editing by Jason Neely, Jan Harvey and Emelia
Sithole-Matarise)
 ((Paolo.Laudani@thomsonreuters.com;))