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AP Moller-Maersk (OTCPK:AMKBY) (OTCPK:AMKBF) expects AP Moller-Maersk (OTCPK:AMKBF) on Monday “extended” disturbances Container shipping in the Red Sea will see the shipping industry spend between 15% and 20% of its ship capacity between Asia and Europe during the second quarter sailing to southern Africa. to avoid the area.
“The risk zone has expanded and attacks are reaching further from the coast, (which) has forced our ships to lengthen their journey even further, resulting in additional time and costs to get their cargo to its destination. for the time being,” Maersk (OTCPK:AMKBY) (OTCPK:AMKBF) in an updated notice to customers.
The company said its fuel costs on affected routes between Asia and Europe are now 40% higher per trip, and charter rates are triple the normal level, often fixed for up to five years.
Spot container rates for shipments from China to the eastern Mediterranean rose 3% last week, the most since mid-January, indicating the capacity shortage could last longer than expected, according to Bloomberg.
Maersk (OTCPK:AMKBY) (OTCPK:AMKBF), often seen as a barometer of global trade, predicted last week that disruptions in the Red Sea would last at least until the end of 2024.
