Maersk warns: Red Sea shipping disruptions could last for months

In an interview with the Financial Times, Vincent Clerc said that the disruption to most container traffic in the Red Sea due to a series of attacks by the Houthi armed forces in Yemen was "extremely serious and dramatic". He added that there were "no winners" in the situation, as ships were forced to detour around South Africa, resulting in longer voyages and increased costs.

"We don't yet know how long it will take to reestablish safe passage in the Red Sea, it could be days, weeks or months... This could have a significant impact on global economic growth."

As a global shipping leader, Maersk is responsible for about one-fifth of all seaborne cargo. Vincent Clerc urged the US-led international community to take more action to ensure safe passage of ships can resume in the Red Sea after an escalation of attacks.

An oil tanker was seized off the coast of Oman on Thursday by unidentified men, who British maritime authorities said were wearing black military uniforms. The incident marked the spread of the threat to the Gulf region. Although no one has yet claimed responsibility, private maritime intelligence agency Tanker Trackers believes the culprit is likely to be Iran.

An attack on a Maersk ship in mid-December caused the Danish group to suspend routes through the Red Sea. The Red Sea, a vital link between Asia and Europe, reopened days after a U.S.-led military coalition tried to establish a safe passage. However, it was attacked again at the end of December. Last week, Maersk announced it would reroute ships from the Red Sea around Africa for the "foreseeable future."

Maersk CEO Ke Wensheng said that the diversion of container ships to the Cape of Good Hope will add about 13,000 kilometers to and from Asia and Europe, and the cost of each container will increase by hundreds of dollars. He added: "Inflation has become a big issue at the moment, which puts inflationary pressure on our costs, customers and ultimately European and American consumers." And warned: "In the short term, it may be at the end of January, February and early March causing significant disruption." 

As ships need to take longer routes, Maersk's fuel costs will increase significantly by 50%. If the current problem is not resolved, vessel scheduling will be disrupted, threatening the stability of global logistics and supply chains.

Maersk CEO Ke Wensheng emphasized: "We urge the international community to act quickly to resolve the reopening of the Bab el-Mandeb Strait. This critical waterway is the lifeblood of the global economy, but now it has come to a standstill."

He further pointed out: "This will not only have a profound impact on the shipping industry, but will also affect consumers, product supplies and even the entire global economy." As container freight rates rise, Maersk's share price has risen by a quarter in the past month .

When asked how he views the company's profit growth at the expense of customers and global economic interests, Ke Wensheng responded firmly: "I want to make it clear that our first priority is to restore safe channels and return to normal operating mode. We are currently mobilizing All resources to achieve this goal. Because of the need to circumnavigate the Cape of Good Hope, this inevitably has a series of consequences."

He added that Maersk has limited knowledge of the security situation around the Red Sea, as the situation continues to evolve and is closely tied to the Israeli-Palestinian conflict. "The attack techniques are constantly evolving, and the types of weapons are also upgrading. The geographical scope is expanding. These make risk assessment extremely complex. We need to remain highly vigilant." Ke Wensheng emphasized.