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Maersk, DHL warn that tensions in the Red Sea are difficult to resolve and ship safety is threatened.
Jan 19,2024
On January 16, local time, the Houthi military spokesman Yahya Saria issued a statement stating that the Houthi armed forces successfully attacked a ship named "Zografia" (Zografía).
The statement said the Zoglafia was heading to an Israeli port when it was attacked. The Houthis announced that they would continue to ban Israeli ships or ships bound for Israel from sailing in the Red Sea and the Arabian Sea until Israel stops its attacks on the Gaza Strip and lifts the blockade of Gaza.
Recently, tensions in the Red Sea have escalated significantly. As a result of air strikes on Houthi military targets, the risks to ships related to the flag, ownership, management, and trade of the United States and the United Kingdom have increased.
More and more shipping companies avoid sailing in the Red Sea area. According to the Wall Street Journal, British oil giant Shell has indefinitely suspended all oil shipments through the Red Sea. Japanese shipping giant Mitsui also announced on Tuesday that it would stop all ships crossing the Red Sea.
British oil giant Shell has decided to suspend all shipping through the Red Sea indefinitely, media reported on Tuesday, citing people familiar with the matter.
Last month, a tanker chartered by Shell was attacked by drones in the Red Sea and harassed by the Houthis. Shell made the decision to suspend the transit because of concerns that a substantial and effective attack in the Red Sea area could lead to a large-scale oil spill and pose a threat to the safety of the crew.
Shell declined to comment on the suspension of Red Sea shipping and previous attacks.
According to CCTV News, citing the "Nihon Keizai Shimbun" report, as of the 16th local time, the three major domestic shipping companies in Japan, including Japanese mail, merchant ship Mitsui and Kawasaki Steamship, have decided to stop all ships from crossing the Red Sea.
In addition, the latest data show that Qatar has also suspended the navigation of liquefied natural gas ships through the Bab al-Mandeb Strait.
According to the Sindh Maritime Network, the natural gas vessels, although starting again, are currently turning south to avoid taking the Red Sea route to the Suez Canal.
Tensions in the Red Sea have increased over the past few weeks. Ships passing through the Red Sea have been attacked by Yemeni Houthis, prompting more ships to change course, which has led to a spike in shipping costs.
US-UK ships are blacklisted by insurance companies"
Tensions in the Red Sea are still escalating, and the impact on the global shipping industry is further fermented. Some ship insurance companies began to deny war insurance to American and British merchant ships sailing in the Red Sea.
In the past few days, Yemen's Houthi armed forces have stepped up attacks on merchant ships in retaliation for the US and British attacks on Yemen last week. Since Monday, the Houthis have attacked two merchant ships with missiles, but the two merchant ships were able to continue sailing after the attack.
Marcus Baker, global head of Marxin's maritime and freight business, said that as a result of the escalation of tensions,Insurers, in issuing insurance for ships passing through the area, are seeking to exclude ships with links to the United States, the United Kingdom and IsraelThis means that they will not provide insurance for these ships.
"Insurers are adding provisions that prohibit the United States, the United Kingdom or Israel from participating. Almost every insurer is adding similar provisions, and many of them also include words like 'ownership' or 'interest'," Baker said."
Insurance exemptions are too broad and there is a risk of problems. Baker explained that while "ownership" is a relatively simple term, "interest" can have a broader interpretation that can cover more unrelated factors, such as the charterer or the port the vessel has previously arrived in.
In recent days, after the US and British air strikes in Yemen, the war risk rate has soared sharply, rising to about 1% of the value of the ship, compared with only 1 ‰ a few weeks ago ‰. That means it currently costs about $1 million to insure a $0.1 billion vessel.
The Zografia round was attacked as a signal (Two merchant ships attacked! China Shipping Divisionupstream, to launch the Red Sea Express...), I .e.The current situation suggests that any ship could be at risk, not just from Israel, Britain and the United States.
Clarksons Securities also commented in a report: "Owners and charterers may find it more cost-effective to make a detour to Africa than to bear the combined costs of Suez Canal transit and insurance."
Source Official Media/Network News
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