The Red Sea is an important global trade route for containers and the transport of oil and gas, linking Asia, Europe and Africa. However, the area is characterised by geopolitical tensions, piracy and armed attacks.
As reported in the international press, recent weeks have been characterised by incidents that have disrupted maritime traffic and increased security concerns in the area. Houthi rebels are currently carrying out attacks against commercial vessels in the Bab al-Mandab Strait, and we expect impacts on global shipping. This is linked to the conflict between Israel and Palestine.
Going forward, the conflict is expected to have significant consequences for global trade, with severe delays, ships out of position for weeks or months, and increased costs for services crossing the Red Sea.
It is still unclear how extensive the consequences will be, but SR Group will do what we can to keep our customers and partners updated and find good solutions.
The safety and lives of those involved are of course the highest priority and our thoughts are with them.
If you have any questions, please contact us.
"The shipping companies are taking the situation very seriously and are continuously assessing the threat situation. We assume that more shipping companies will consider alternative sailing patterns in the future. However, sailing around the Red Sea and the Suez Canal is time-consuming, which in the event of an attack will result in delays and disruptions to world trade. Shipping is an innocent third party and the attacks are taking place in one of the world's most important shipping lanes for civilian shipping. At any given time, Norway has around 40 Norwegian-affiliated ships in this area."
- Harald Solberg, CEO of the Norwegian Shipowners' Association
