Although three major ocean freight alliances are in place for sharing vessel capacity, recent events have made it painfully apparent that this does not translate into consistency in risk assessments, routing decisions, and schedule reliability. Most apparent has been the limbo dance performed by Maersk, which, in recent days, has completed a U-turn on the decision to once again transit through the Red Sea and Suez Canal. 

As we enter day 24 of the Red Sea crisis, the situation is as such unchanged, with the industry having grown accustomed to utilising routing via the Cape of Good Hope in the wake of Houthi attacks on commercial vessels in the Red Sea.

At the inception of this advisory, the headline read “Red Sea crisis enters hibernation mode”; however, this headline is clearly no longer reflecting the latest development.

It would be a fair statement that the start of 2024 has been anything but quiet, and our stability temperature monitor is edging ever closer to code red.

As we enter the third month of attacks on commercial vessels in the Red Sea by Houthi rebels, the outlook for a resolution to the ensuing conflict looks further away than ever