Another Follow-the-Leader Effect?
Two vessels near the Gulf of Aden were forced to seek the support of the U.S. Navy after explosions occurred nearby on Wednesday. No damage was caused to the Maersk Detroit or Maersk Chesapeake.
“Following the escalation of risk, (Maersk Line, Limited) MLL is suspending transits in the region until further notice,” it said on Wednesday.
We saw a follow-the-leader effect a month ago after the world’s largest carrier announced it would avoid the Red Sea. Expect another wave of supply chain disruption – there were still 32 UK and U.S. vessels transiting the area this past month, according to Windward’s Maritime AI™ platform.
This recent incident, coupled with earlier ones (see below), will further drive insurance premiums up and create even more disruptions as a greater number of charterers and carriers avoid the area. Freight and insurance rates will continue to rise…
Trade flows are changing, which is why we launched our new Sequence Search. It’s a unique way for users to conduct advanced analysis of vessels’ behavioral typologies and trade movements by searching for a sequence of activities. It also helps contextualize the journey, enabling users to see if route deviations were conducted for security reasons, or for concealing illicit activities.
A report from Windward posted on February 02, 2024.
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