{"id":613915,"date":"2024-01-23T00:00:00","date_gmt":"2024-01-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/23\/shipping-giants-divert-more-red-sea-routes-and-seek-overland-alternatives\/"},"modified":"2024-01-23T00:00:00","modified_gmt":"2024-01-23T00:00:00","slug":"shipping-giants-divert-more-red-sea-routes-and-seek-overland-alternatives","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/23\/shipping-giants-divert-more-red-sea-routes-and-seek-overland-alternatives\/","title":{"rendered":"Shipping giants divert more Red Sea routes and seek overland alternatives"},"content":{"rendered":"

Maersk suspends<\/strong> additional services<\/strong> in the Red Sea:<\/strong> Danish shipping giant Maersk<\/a> has reshuffled routes on its ME2 service that connects the western Mediterranean to the Gulf and India, diverting them via the Cape of Good Hope, according to a statement<\/a> yesterday. The revised rotation will see westbound calls to Salalah and Jeddah suspended until further notice. On Friday, the company said that it will no longer load new cargo from Somalia\u2019s Berbera or Yemen\u2019s Hodeida and Aden, in addition to omitting Djibouti from its Blue Nile Express (BNX) service. Maersk cited risks to seafarers and cargo on Red Sea transits as the reason behind the reshuffles. <\/p>\n

Hapag-Lloyd finds overland solution to Red Sea disruptions: <\/strong>Hapag Lloyd<\/a> is set to introduceland corridors through Saudi Arabia to minimize the impact of disruptions to client businesses, as the German carrier continues to reroute shipments via the Cape of Good Hope until further notice, it said<\/a> on Friday. Hapag Lloyd is looking to establish a land route linking the UAE\u2019s port in Jebel Ali and Saudi Arabia\u2019s ports Dammam and Jubail to an ocean shuttle service operating out of Jeddah. The firm said that it will \u201ccontinue to expand this inland network within the GCC.\u201d <\/p>\n

Suez Shipyard<\/a><\/strong> \u2014 a company operating under the <\/strong>Suez Canal Authority<\/a><\/strong> (SCA) \u2014 has<\/strong> received Greek-owned <\/strong>Zografia<\/a><\/strong> to carry out repairs,<\/strong> following damage incurred in a Houthi attack, according to a statement<\/a> by authority head Osama Rabie yesterday. Suez Shipyard operates one of the largest floating docks in the region, in addition to a dry dock that is used for the repair of medium-sized vessels, the statement added.<\/p>\n

\n

THE VIEW FROM THE MARKET FLOOR<\/p>\n

Shipping delays are tightening crude supply:<\/strong> Red Sea disruptions, surging Chinese demand, and supply outages are boosting competition for oil supplies that do not have to transit via the Suez Canal, Reuters<\/a> reported citing LSEG data and analysts. As supply tightens, the dynamics of the Brent crude futures market is changing, with spot prices overtaking future contracts \u2014 in what the industry refers to as \u2018backwardation\u2019 \u2014 as markets rush to seize available oil supplies to hedge against future shortfalls. <\/p>\n

Asian refiners are looking to diversify suppliers in a bid to ensure steady and cheap oil<\/strong> flows amid Red Sea disruptions,<\/strong> particularly if the situation escalates, according to S&P Global Commodity Insights<\/a>. Asian refiners may begin looking to scale back agreements from Middle Eastern suppliers witnessing an increase in delivery costs and look towards alternative sources in the US, Africa, and South America, in addition to expanding storage infrastructure to hedge against supply shocks.<\/p>\n","protected":false},"excerpt":{"rendered":"

Hapag Lloyd will introduce a land corridor through Saudi Arabia, while Maersk has made adjustments to several of its services to avoid the Red Sea<\/p>\n","protected":false},"author":1,"featured_media":613916,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8271],"tags":[72,665,6984,7360,90,448],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-613915","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-red-sea-watch","tag-enterpriseam","tag-maersk","tag-middle-east-politics","tag-red-sea-watch","tag-uae","tag-yemen","wpautop","entry"],"acf":{"mongo_id":"f7db11df-1297-45c9-b0f2-0d6e48047785","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/1884.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Shipping giants divert more Red Sea routes and seek overland alternatives","related_issue":[613910],"teaser":"Hapag Lloyd will introduce a land corridor through Saudi Arabia, while Maersk has made adjustments to several of its services to avoid the Red Sea","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.ba908d61-6cb4-4d25-8098-8dd8089ac38e.mp3"},"yoast_head":"\nShipping giants divert more Red Sea routes and seek overland alternatives - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/23\/shipping-giants-divert-more-red-sea-routes-and-seek-overland-alternatives\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shipping giants divert more Red Sea routes and seek overland alternatives\" \/>\n<meta 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sinking three Houthi vessels and killing 10 militants","rel":"","context":"In "Logistics"","block_context":{"text":"Logistics","link":"https:\/\/enterpriseam.com\/egypt\/category\/logistics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/76.JPG?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":660218,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/09\/maersk-doesnt-see-red-sea-traffic-picking-up-before-mid-2025\/","url_meta":{"origin":613915,"position":1},"title":"Maersk doesn\u2019t see Red Sea traffic picking up before mid-2025","author":"enterpriseam admin","date":"9 February 2025","format":false,"excerpt":"A trickle of US- and UK-linked ships passed through the Red Sea safely after Yemen\u2019s Houthis announced they would only target Israeli-linked vessels","rel":"","context":"In "Logistics"","block_context":{"text":"Logistics","link":"https:\/\/enterpriseam.com\/egypt\/category\/logistics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/2\/692.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":574756,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/21\/maersk-blasts-new-customs-act-arguing-it-violates-international-shipping-agreements\/","url_meta":{"origin":613915,"position":2},"title":"Maersk blasts new customs act, arguing it violates international shipping agreements","author":"enterpriseam admin","date":"21 September 2020","format":false,"excerpt":"Does the new Customs Act contravene int\u2019l trade + shipping agreements? Maersk seems to think so. The shipping line\u2019s Egypt arm blasted the recently-passed Customs Act, claiming in a memo to the Alexandria Chamber of Shipping that some articles of the law breach international trade agreements Egypt has ratified, including\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/9\/223.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":665258,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/05\/14\/maersk-could-resume-suez-canal-transits\/","url_meta":{"origin":613915,"position":3},"title":"Maersk could resume Suez Canal transits","author":"enterpriseam admin","date":"14 May 2025","format":false,"excerpt":"Good afternoon, wonderful people, and welcome to the almost-weekend. Today\u2019s light issue brings news of efforts to jumpstart Suez Canal traffic, surprising developments in US-Syria relations, and how Apple plans to integrate their devices even further in our lives through accessibility tech.THE BIG STORY TODAY- Egypt urges Maersk to resume\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/2\/692.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":613139,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/09\/chinese-shipping-giant-cosco-suspends-all-shipping-to-israel-amid-houthi-attacks\/","url_meta":{"origin":613915,"position":4},"title":"Chinese shipping giant Cosco suspends all shipping to Israel amid Houthi attacks","author":"enterpriseam admin","date":"9 January 2024","format":false,"excerpt":"Cosco is the fourth largest shipping company in the world","rel":"","context":"In "RED SEA WATCH"","block_context":{"text":"RED SEA WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/red-sea-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/502.jpeg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":612557,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/25\/egypt-submits-proposal-to-end-war-on-gaza-maersk-is-preparing-to-head-back-to-the-red-sea\/","url_meta":{"origin":613915,"position":5},"title":"Egypt submits proposal to end war on Gaza + Maersk is preparing to head back to the Red Sea","author":"enterpriseam admin","date":"25 December 2023","format":false,"excerpt":"Good morning and a very Merry Christmas. We have a brisk issue for you this morning led by debt and investment news. THE BIG STORY HERE AT HOME- El Sisi, Madbouly, Maait talk budget: President Abdel Fattah El Sisi met with Prime Minister Moustafa Madbouly, and Finance Minister Mohamed Maait\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1628.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/613915","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=613915"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/613915\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/613910"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/613916"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=613915"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=613915"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=613915"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=613915"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=613915"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}