Suez/Red Sea Situation

Suez/Red Sea Situation

KTL Europe are actively monitoring the events that are unfolding in the Red Sea and striving to keep our customers informed of the situation, as it unfolds.

It seems that military action is imminent with events over the last few days involving armed clashes with military and private security with the Houthi rebels,

Global supply chains could face severe disruption as a result of the world's biggest shipping companies diverting journeys away from the Red Sea.

Attacks by Houthi rebels in Yemen on commercial vessels in recent weeks have resulted in many firms deciding to avoid one of the busiest shipping lanes.

The Houthi group has declared its support for Hamas and has said it is targeting ships travelling to Israel, though it is not clear if all the ships that have been attacked were actually heading to Israel.

The Suez Canal is used by roughly one third of global container ship cargo and it is estimated that some 350 ships are being redirected around Africa.

We are now seeing surcharges come in at around $500 per TEU depending on the carrier/shipping line along with rates tripling since early December.

The US, UK and 10 other states have warned rebels in Yemen they will face consequences if they continue to attack commercial shipping in the Red Sea.

Will will keep you updated as soon as we know more but in the mean time please get in touch with our team if you need any advice or assistance with your shipping needs.