ALERTS & ​ADVISORIES

UPDATED Customer Advisory: Red Sea Attacks and Suez Canal Bypass

By
February 16, 2024
Ships docked at the port during breathtaking sunset.
Ships docked at the port during breathtaking sunset.

Completing nine weeks of the Red Sea crisis, a tentative new normal emerges. While the timeline for re-routing through the region remains unclear, ocean carriers have largely adapted their schedules and ports of call, suggesting fewer operational disruptions on both primary and backhaul routes going forward. However, experts urge caution, emphasizing the inherent volatility of the situation and the potential for future flare-ups. 

Industry Insights, Facts & Market Developments 

Below are some additional key facts and market developments surrounding the situation.  

  • Leading analysts predict a prolonged Red Sea closure, which could last through 2024. Shippers should remain vigilant for further supply/demand disruptions. The only remaining carriers who traverse the Red Sea are smaller Asian carriers. 
  • The Houthi claim to be attacking only US, UK, and Israeli ships, but experts state this is rather subjective, and all ships are at risk in the Red Sea. 
  • US CENTCOM successfully intercepted missiles launched by Houthis in the past week, as well as launching several counterattacks.  
  • All major carriers continue to go around the Cape with extended Transit time and higher costs to follow. The supply chain has started to adjust to the new reality.  
  • More information has come out on EU Operation Aspides, which is set to last for one year, be purely defensive in nature with no attacks on Yemeni soil, and based on Greece.  
  • Hapag Lloyd is reducing their Operational Recovery Surcharge from US East and Gulf Coast to Asia effective February 16th, today, which was initially implemented February 5th only. While back haul related, a sign of relief. 
  • Drewry’s WCI, released yesterday, indicated that from Asia to Europe and the Mediterranean, it continued to decline, but the pace of decline slowed compared to the past week.  
  • Backhaul rates from Europe and the Mediterranean to Asia seem to be catching up, reacting to the crisis. Xeneta reported a 68% rise in North Europe to Asia and a 45% increase in Mediterranean rates since December 31st, 2023.  

Our Commitment 

JAS Worldwide will continue to monitor the situation and keep you duly updated. Our public website update will occur once per week, every Friday.  

For any more detailed and / or shipment specific information, or alternative solutions, please contact your local JAS office.  

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Blue World Line

Dear Valued Customer, 

Due to the recent collapse of the Francis Scott Key Bridge in Baltimore, we are raising awareness that our services and contracts are affected by this situation.  

Therefore, in conjunction with similar actions taken by ocean carriers, Blue World Line hereby provides this notice, in accordance with the clauses 11 and 12 of its bill of lading, of the necessary re-routing of some vessels currently sailing to and from the Port of Baltimore. 

Cargo currently at the terminals in Baltimore will remain at the port until further notice and imports originally set to call the port of Baltimore have been rerouted to other US East Coast ports.  

JAS Worldwide, as agent for Blue World Line, is taking all necessary steps to preserve its transportation services for our customers and to mitigate the impact of this situation on your shipments. 

Lastly, this disruption will continue to impact our services along the east coast of the United States and drive booking and routing changes on both imports and exports calling the port of Baltimore.  We will continue our best efforts to keep you updated on the status of your shipments and any developments as they happen.  

We appreciate your understanding and cooperation in this difficult situation, and we will keep you updated on any additional developments. Please check back often at www.jas.com for the latest news. 

For any questions and concerns, please contact your local JAS office.  

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