With the recent escalation of the Red Sea crisis, most shipping companies no longer provide direct services in the Red Sea area. However, it is against this background that some small shipping companies have seen the opportunities in the market and entered the Red Sea market one after another.
In addition to the Summit Shipping Line, in fact, as early as January this year, another Singapore-based shipping company named Sea Legend Shipping announced the opening of the Red Sea route business.
At the same time, international shipping giants are also actively seeking cooperation opportunities with shipping companies in the Red Sea region. CMA CGM, a French liner giant, has reached a cooperation agreement with Folk Maritime, a newly established Saudi feeder shipping company, to jointly expand its service scope in the northern part of the Red Sea. Since April 2024, the two parties have jointly operated the NRX(North Red Sea Express) Express Line. Two ships will be deployed on this route to provide weekly service. Port sequence: Jeddah RSGT–Jeddah DPW–NEOM–Sokhna–Aqaba–Yanbu–Jeddah RSGT. The maiden voyage will depart from Jeddah on April 9, 2024 by the "Jin Shun He".
Maersk official website announced the business update of Red Sea/Gulf of Aden on 22nd. The announcement pointed out that although the EU has taken a series of escort safety measures to enhance the safety of the Red Sea region, it has decided to continue to avoid the region after comprehensive evaluation, and it is too early to evaluate the return to the Red Sea to resume normal navigation.
Maersk said that the EU's "Aspides" campaign has achieved remarkable results, effectively improving the safety of the Red Sea and the Mande Strait and reducing the risks of passing ships. Unfortunately, however, the information currently available shows that the risks in this region are still high. Despite such challenges, there are still shipping companies that insist on or plan to resume the Red Sea route. Maersk respects the decisions of all operators, but after evaluation, it is considered that the current conditions do not allow similar actions. Therefore, Maersk insists that bypassing Africa through the Cape of Good Hope is the safest and most beneficial solution to ensure the stability of the supply chain. Maersk will continue to monitor the situation to ensure that decisions are made in the best interests of all parties.
https://www.cnss.com.cn/html/hyqy/20240326/352652.html
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