Red Sea Security - putting seafarer safety first
The security situation around the Red Sea continues to be dire, with vessels attempting to transit being fired upon with missiles and drones as well as suffering attacks from armed fighters on the water. Carriers are adapting to the situation in the way that best keeps seafarers, cargo and vessels safe while at the same time serving customers’ needs.
Commercial shipping under threat.
With the relentless attacks putting seafarers’ lives at risk, many carriers have elected to re-route all or some of their planned sailings through the Red Sea and the Suez Canal to instead go around Cape of Good Hope. Others take extensive security measures and risk the Red Sea transit.
Carriers are responding to real risks and incurring significantly increased costs in making these difficult operational choices, and each carrier must adapt to the situation in the way that best keeps seafarers, cargo and vessels safe while at the same time serving customers’ needs.
We are grateful that nations have come together to protect seafarers and the vessels on which they serve. The fact remains that carriers are being attacked and must protect their seafarers.
Keeping seafarers,
cargo and vessels safe.
Many shipping companies have determined that the risks to their crews and vessels in the Red Sea are unacceptably high, literally life-threatening, and are taking the far longer route around the African continent.
Transiting around the Cape of Good Hope instead of through the Suez Canal adds millions of dollars in increased fuel costs and transit time. The vessels still transiting are also seeing major cost increases: Skyrocketing insurance rates, added security forces on ships, contractually mandated war-risk premium pay for seafarers, and many other unavoidable expenses.
Keeping trade flowing.
Whether a vessel goes around the Cape or braves the Red Sea transit, operational costs are significantly increased. It also means that vessels are unavailable to take other cargo, and significant and costly repositioning and schedule changes may be needed.
Liner carriers are re-wiring an entire global network to manage the situation brought on by these unprecedented attacks. Transits may take some more time and involve additional cost, but we will keep global trade running, and shipping costs will continue to be a very small percentage of the overall cost of goods.