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Dec 21 2023

Logistics UK statement on the current situation in the Red Sea

In response to the current situation in the Red Sea, Logistics UK’s Head of Trade Nichola Mallon said: “Seafarers, vessels and the cargoes on them, as civilian trade, have the right under international law to move safely. These indiscriminate attacks from shore-based installations in Yemen are of serious concern from a safety and international trade perspective.

 

“The withdrawal of north-bound services from the Red Sea/Suez Canal route will mean their diversion via the Cape of Good Hope adding about 10 days to transit times and estimated arrival dates in North Europe and Mediterranean ports. With this diversion and delay comes additional costs. Any prolonged closure will add to the costs of goods, already under pressure from the effects of wider inflation, especially if flows of oil and natural gas are affected.

 

“This serious situation predominantly affects ships serving the Asia to North Europe and Mediterranean routes, however there could be knock-on effects in other regions if the situation escalates or lasts for a prolonged period. This interruption to global shipping also comes at a time when there are significant challenges to movement through the Panama Canal because of drought.  Read more

 

Source: LOGISTICS UK