MSK(Maersk): There aren't enough boats
According to the Wall Street Journal, A.P. Moller-Maersk Group said that the disruption to its container shipping business from the Red Sea crisis has expanded, and its entire maritime network is now affected.
Late last year, the Houthis began attacking merchant ships, forcing container operators to take the longer and more expensive Cape of Good Hope route to South Africa to avoid the Red Sea, leading to a shortage of vessels despite continued strong demand.
Maersk Chief Executive Vincent Clerc said on Wednesday that all of the company's ships capable of sailing, as well as all previously underutilized vessels, had now been redeployed to try to fill the capacity gap, but that this was still unlikely to meet demand in the coming months.
"The knock-on effects of these disruptions have been felt on other routes, causing congestion on alternative routes and transshipment hubs necessary for trade with the Far East, Central and Western Asia and Europe," the company said.
The company also said that due to the knock-on effects of the Red Sea incident, ship diversion and shipping schedules at Asian ports such as Singapore, Australia and Shanghai were disrupted, resulting in delays.
Maersk said the upcoming typhoon season is also expected to affect parts of China, creating a risk of further congestion. In addition, strong exports from Asia to North America and Europe are driving demand growth, and Maersk is preparing for continued disruption with a focus on adjusting the network layout, securing more available containers and further increasing capacity.
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