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Shipping firms react to Houthi attacks in Red Sea

Attacks on vessels in the Red Sea by Iranaligned Houthi militants have disrupted a shipping path vital to eastwest trade, with extended rerouting of shipments pushing freight rates higher and triggering blockage in Asian and European ports.

Below are actions taken by some shipping business (in. alphabetical order):

CMA CGM

The French shipping group has suspended most Red Sea voyages. however is still sending some cargoes on a case by case basis when. French navy escorts are possible, Chairman and CEO Rodolphe. Saade said in February.

DIANA SHIPPING

The business's vessels are avoiding the Suez Canal.

Suez Canal transits are running about 40% below those seen. during the first half of December last year. This is partly. the result of numerous operators including ourselves preventing the. location, President Anastasios Margaronis stated in February.

DSV

The world's third-largest freight forwarder DSV. said on July 24 that higher freight volume boosted revenues in. the second quarter. It also anticipates a favorable impact from the. disturbances in the second half of the year.

EURONAV

The Belgian oil tanker company said in December it would avoid. the Red Sea until more notification.

EVERGREEN

The Taiwanese container shipping line stated in December its. vessels on regional services to Red Sea ports would sail to safe. waters close by, while ships set up to pass through the Red Sea. would be rerouted around Africa.

FRONTLINE

The Norway-based oil tanker group said in December its. vessels would avoid the Red Sea and the Gulf of Aden.

GRAM AUTOMOBILE PROVIDERS

The Norwegian vehicle carrier said in December its vessels were. restricted from passing through the Red Sea.

HAFNIA

The Norwegian shipping company said in January it had stopped. all ships heading towards or within the Bab al-Mandab Strait.

HAPAG-LLOYD

The German container shipping line chose in January to. reroute its vessels around Africa until further notification.

It said in June it did not expect the market to resume. cruising in the Red Sea even if a ceasefire between Hamas and. Israel was reached immediately.

It has likewise stated the interruptions and international vessel. oversupply would require it to cut costs in 2024, including. adapting sailings.

HMM

The South Korean container shipper in December ordered ships. that would normally utilize the Suez Canal to reroute around Africa.

HOEGH AUTOLINERS

The Norwegian car provider stated in December it would stop. sailing via the Red Sea. In February, it stated the interruptions. were negatively impacting its capacity and volumes.

KLAVENESS MIX CARRIERS

The Norway-based fleet operator stated in January its vessels. would avoid the Red Sea until the scenario improves.

KUEHNE + NAGEL

The Swiss logistics group said in March it anticipated the. effect from the disturbances to last into the coming quarters.

It said on July 23 the effect on its business was very little,. and it was ready for higher second-half demand after increased. use of its Sea-Air Logistics service.

MAERSK

Maersk stated on Aug. 1 it anticipated the disturbances to. continue a minimum of up until completion of 2024, as it raised its. full-year outlook again partially due to the crisis.

The Danish group, which has suspended Red Sea traffic, said. in July it was experiencing a cascading effect from disruptions. in the area, with blockages to its entire ocean network.

MSC

Mediterranean Shipping Company (MSC) stated in December its. ships would not transit through the Suez Canal.

NIPPON YUSEN

Japan's most significant carrier by sales suspended navigation. through the Red Sea for all its vessels, a representative told. Reuters in January.

OCEAN NETWORK EXPRESS

The joint venture between Japan's Kawasaki Kisen Kaisha. , Mitsui O.S.K. Lines and Nippon Yusen said in. December it would reroute vessels around the Cape of Good Hope. or temporarily stop briefly journeys and relocate to safe locations.

OOCL

The Hong Kong-headquartered container group said in December. it had advised vessels to either divert far from the Red Sea. or suspend cruising. It also stopped accepting freight to and from. Israel till more notice.

STAR BULK

Greece-headquartered Star Bulk's CEO said in February it. would stop sailings through the Red Sea after attacks on 2 of. its ships.

TAILWIND SHIPPING LINES

The Lidl system, which transfers non-food products for the. discount grocery store chain and items for third-party clients,. said in December it was cruising around Africa for now.

TORM

The Danish oil tanker group in January stopped briefly all transits. through the southern Red Sea for the time being.

WALLENIUS WILHELMSEN

The Norwegian shipping group said in December it would stop. Red Sea transits till more notice.

(source: Reuters)