November 18, 2024
Price Trends and Market Dynamics The coconut oil market has shown strong performance, continuing its…
Important Shipping Update
On Friday Afternoon, Reuters is reporting that Maersk has paused Red Sea container traffic over attacks.
https://www.reuters.com/world/maersk-pause-all-container-shipments-through-red-sea-2023-12-15/
“Following the near-miss incident involving Maersk Gibraltar yesterday and yet another attack on a container vessel today, we have instructed all Maersk vessels in the area bound to pass through the Bab al-Mandab Strait to pause their journey until further notice,” the company said in a statement.
Pushing shipping around Africa will add delays of up to 7 to 10 days, but the delays may actually go over this as ships are held and then move to new routes.
The US is in talks to police the straits around the entrance to the Red Sea.
Currently, this does not affect any TMD shipments.
This is big news, as other container shipping companies may follow in the coming days.
There were no updates over the weekend on this be we are watching the news closely
