Shippers Alter Routes And Monitor Suez Canal Traffic Due To Security Concerns

In response to increased attacks in the Red Sea, shippers are changing their routes and keeping a close eye on Suez Canal traffic due to increased security concerns.

Some shipping companies have entirely avoided the region due to the recent spike in incidents, especially in the Red Sea and Gulf of Aden. Some are choosing to take longer trips around Africa, which adds around two weeks to travel time and increases emissions, according to the Secretary General of Bimco, David Loosley.

The Israel-Hamas conflict has led to attacks on various commercial ships in Yemen by Houthis backed by Iran, increasing the security risks in the Red Sea and Bab al-Mandeb area.

Tanker rates and insurance costs have grown due to the advisories that coast guards and navies have issued in response to these incidents. Measures to address safety concerns include heightened awareness of potential helicopter attacks.

On December 3, the UK authorities reported several threats to shipping in the Bab el-Mandeb Strait, highlighting the necessity of industry and government cooperation to provide timely warnings.

The International Chamber of Shipping denounced the attacks as violating international law and called for improving the region’s maritime security. Transporters also carefully monitor traffic through the Suez Canal, a vital waterway that sees 19,000 vessels pass through annually.

MISC Group Captain Rajalingam Subramaniam highlighted the need for safety and security above all else and expressed the hope that the right to innocent passage would be prioritised. The shipping industry is closely evaluating the potential impact on the Suez Canal in addition to operational considerations.

Despite the extra time and expense, shippers seeking a safer passage increasingly choose alternate routes like the Cape of Good Hope. There are still uncertainties regarding how the situation will affect marine insurance as it changes.

Reference: Hellenic shipping news