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ENERGY: Shipping Firms Show Reluctance to Red Sea Passage

ENERGY
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Updates from shipping firms show continued reluctance to return to Red Sea passage following Houthi communications this week that it would not attack non-Israel vessels, although early signs of increasing interest have emerged.

  • French container line CMA CGM confirmed yesterday that it will send a containership “CMA CGM COLUMBIA” through the Red Sea on an ad-hoc basis, with one passage scheduled today.
  • Meanwhile, Mitsui CEO explained at Davos that the company will not be re-opening the Suez route imminently, with a decision not expected for several weeks or even months.
  • MSC will be sending its vessels around Africa until further notice.
  • Tanker owner Torm is considering “when it may be relevant to resume transits through the southern part of the Red Sea,” according to a statement with Bloomberg.
  • Hafnia, Maersk and Torm are monitoring the situation, all citing safety concerns.
  • The Iran-backed Houthis promised to stop attacking ships in the Red Sea, except those flagged in Israel, following the Israel-Hamas ceasefire deal on Jan. 19
  • In a sign of de-escalation yesterday, Houthi rebels released the crew of the “GALAXY LEADER” RoRo vessel initially seized by the group in November 2023.
  • Meanwhile, the Trump administration’s re-designation of the Houthi rebel group as a ‘Foreign Terrorist Organization’ will impose harsher economic penalties on the group and could add to tensions.
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Updates from shipping firms show continued reluctance to return to Red Sea passage following Houthi communications this week that it would not attack non-Israel vessels, although early signs of increasing interest have emerged.

  • French container line CMA CGM confirmed yesterday that it will send a containership “CMA CGM COLUMBIA” through the Red Sea on an ad-hoc basis, with one passage scheduled today.
  • Meanwhile, Mitsui CEO explained at Davos that the company will not be re-opening the Suez route imminently, with a decision not expected for several weeks or even months.
  • MSC will be sending its vessels around Africa until further notice.
  • Tanker owner Torm is considering “when it may be relevant to resume transits through the southern part of the Red Sea,” according to a statement with Bloomberg.
  • Hafnia, Maersk and Torm are monitoring the situation, all citing safety concerns.
  • The Iran-backed Houthis promised to stop attacking ships in the Red Sea, except those flagged in Israel, following the Israel-Hamas ceasefire deal on Jan. 19
  • In a sign of de-escalation yesterday, Houthi rebels released the crew of the “GALAXY LEADER” RoRo vessel initially seized by the group in November 2023.
  • Meanwhile, the Trump administration’s re-designation of the Houthi rebel group as a ‘Foreign Terrorist Organization’ will impose harsher economic penalties on the group and could add to tensions.