Houthi militants claim to have attacked CMA CGM, and the Red Sea crisis is causing an increase in de

According to the latest information from Charging Culture Media, Bolloré Logistics stated yesterday that due to the impact of the Red Sea conflict on shipping through the Suez Canal, there is an increasing demand for air freight.


The international transportation and logistics company mentioned that the "unstable" situation has led to rising freight rates, increased transit times, and disruptions in the supply chain, squeezing air freight capacity. The company recently stated, "The increased maritime transit times will put pressure on inventory and directly impact air freight capacity, with expectations of significant price hikes in major trade routes."


Bolloré added that they anticipate an increase in air freight capacity from mid-January to early February (excluding China). More shippers are committing to long-term fixed-rate contracts for air freight.

Xeneta data reveals that in the last quarter of 2023, contracts with durations exceeding six months accounted for 45% of all agreements, a 5% increase from the third quarter. Six-month contracts held 28% of the market, while contracts with a duration of one month or less constituted only 14%.

Last month, shipping companies diverted vessels away from the Suez Canal due to attacks by Houthi militias near the Yemeni coast in the Red Sea. This has affected over 350 vessels and nearly 5 million standard containers. Many shipping companies rerouted ships around the southern tip of Africa or temporarily suspended shipping operations through the Suez Canal, leading to increased maritime prices and transit times, sparking concerns about supply chain delays and congestion.

The Red Sea conflict has created opportunities for the growth of air cargo charter services, as shippers and freight agents seek alternative transportation methods for high-risk cargo. A multinational defense force called the "Prosperity Guardian Operation" (OPG) was established last month to protect commercial shipping in the Red Sea. However, following an attack on the Maersk Hangzhou vessel, the company decided to "suspend all transport through the Red Sea/Aden Gulf until further notice."

Meanwhile, Houthi armed forces claimed yesterday to have attacked another commercial ship in the Red Sea as a reminder of the threat they pose to vital trade arteries. The spokesperson for the Houthi armed forces stated in a televised speech that a vessel named CMA CGM Tage was attacked after ignoring warnings. The French container shipping giant, CMA CGM Group, responded, stating that "the ship did not experience any incident" and was at that time crossing the Red Sea towards Alexandria at the northern end of the Suez Canal.


The UK Maritime Trade Operations on its website stated that a vessel was attacked when the CMA CGM Tage passed through. It did not disclose the name of the operator. There are reports of up to three explosions occurring 1 to 5 nautical miles away from a merchant ship.

Bolloré warns that disruptions are expected to persist. Despite the recent formation of a multinational alliance to enhance the security of the Red Sea, drone and missile attacks targeting commercial shipping continue to disrupt vessel activities. As we enter January, available cargo space is becoming increasingly scarce, with daily increases in freight rates, significantly impacting global maritime management.


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