Major carriers CMA CGM, Maersk, MSC and Hapag Lloyd have announced a pause in Suez Canal transits following an attack Friday against the MSC\u2019s Palatium III vessel by Houthi forces.<\/p>\n
The Red Sea and Suez Canal provide a critical link between Asia, Middle East, Europe and North America.\u00a0 Many vessels transiting this lane will now be diverted around the Cape of Good Hope at the southern tip of Africa. <\/p>\n
The situation in the Red Sea will further complicate the Asia to United States east coast traffic which has been impacted by the low-water transit limitations of the drought-stricken Panama Canal. \u00a0The Panama Canal Authority (PCA) announced in October that they would restrict daily vessel transits in January to 20 and February to 18.\u00a0 As a result, ocean carriers of THE Alliance had announced that they would halt Panama Canal transits through February.\u00a0 On Friday, the PCA revised the restriction for January to 24 vessels due to the attacks in the Red Sea along with better-than-expected rainfall and enhanced water-saving efforts.<\/p>\n
For vessels moving from Asia to the United States around the Cape of Good Hope you will see an increase in transit between 5-7 days depending on the vessel speeds and the origin\/destination ports.\u00a0 Because this situation is geo-political in nature, it is unknown how long the situation will last.\u00a0 This transit time delay will impact shipping schedules globally and may require the introduction of additional vessels or larger vessels to meet the supply chain needs of shippers.<\/p>\n
Noatum Logistics will continue to monitor and release updates on the developing situation.<\/p>\n
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