Hapag-Lloyd counts costs of rerouting in 2-digit million-euro range
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
HAPAG-LLOYD incurred costs in a two-digit million euro range between December 18 and 31 as a result of diverting 25 ships in response to militant attacks on vessels in the Red Sea, a company spokesperson told Reuters on Friday (Jan 5).
Journeys have been delayed by between one and three weeks, depending on the area, the spokesperson said.
Hapag-Lloyd is among the major shipping companies currently avoiding the Red Sea, the shortest route for goods from Asia to Europe, after Iranian-backed Houthi militants in Yemen stepped up attacks on vessels in the Gulf region. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Singaporeans can now buy record amount of yen per Singdollar
Beijing’s calculated silence on the Iran war
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
StarHub hands Ensign InfoSecurity control back to Temasek in S$115 million deal, books S$200 million gain
