Eng
Yemen’s Houthi militia have told The Loadstar they will no longer attack commercial vessels in the Red Sea heading to ports anywhere but Israel.
Despite these statements, there is no sign of commercial traffic reverting quickly to the short waterway to Europe. There is a high risk that the Houthis could change their minds at any moment and start attacking ships instantly, whereas changing line schedules is a long endeavour that would take months. Carriers are also concerned about the safety of their recruited crews.
In addition, many consignors are risk-averse and prefer a reliable and predictable supply chain.
However, experts believe that if the Red Sea does become safe, there will be a rapid realignment of shipping routes and an increasing problem of overcapacity.
Source: theloadstar.com