Market Update 20th Jan 2025
January 20, 2025
Price Trends for Desiccated Coconut In the international market, the export price of desiccated coconut…
Urgent Update on the Red Sea Shipping 16th Dec 2023
Reuters has reported more shipping lines have paused Red Sea routes due to attacks by Iranian-backed Houthi militants on shipping in the area
The report has given details of major lines that have paused or diverted shipping – including all major container companies used for shipping from the Philippines. these are the details taken from the article:
CMA CGM
French shipping group CMA CGM on Dec. 16 said it was pausing all container shipments through the Red Sea.
EVERGREEN
Taiwanese container shipping line Evergreen said on Dec. 18 its vessels on regional services to Red Sea ports would sail to safe waters nearby and wait for further notification, while ships scheduled to pass through the Red Sea would be re-routed around the Cape of Good Hope. It also temporarily stopped accepting Israeli cargo.
HAPAG-LLOYD
German container shipping line Hapag Lloyd said on Dec. 18 it would re-route several ships via the Cape of Good Hope until the safety of passage through the Suez Canal and the Red Sea could be guaranteed.
A projectile believed to be a drone struck its vessel Al Jasrah on Dec. 15, while sailing close to the coast of Yemen. No crew were injured.
MAERSK
Denmark’s A.P. Moller-Maersk on Dec. 15 said it would pause all container shipments through the Red Sea until further notice, following a “near-miss incident” involving its vessel Maersk Gibraltar a day earlier.
The ship was targeted by a missile while travelling from Salalah, Oman, to Jeddah, Saudi Arabia, the company said.
MSC
Mediterranean Shipping Company (MSC) said on Dec. 16 its ships would not transit through the Suez Canal, with some already rerouted via the Cape of Good Hope, a day after Houthi forces fired two ballistic missiles at its MSC Palatium III vessel. The decision will disrupt sailing schedules by several days, the Switzerland-based group said.
OOCL
Orient Overseas Container Line (OOCL) has stopped cargo acceptance to and from Israel until further notice, the shipping company owned by Hong Kong-based Oriental Overseas (International) Ltd (0316.HK)said on Dec. 16.
YANG MING MARINE TRANSPORT
Taiwan’s Yang Ming Marine Transport 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.
We have not had any details of all our shipments, but most that are not through the Red Sea to the Suez Canal are going to be delayed.
