Shipping giants warn of deteriorating Red Sea security situation
Updated 2/11/2024 11:50:00 AM
Arab Finance: Major shipping firms, A.P. Moller-Maersk and Norden, are warning that the security threat in the Red Sea is continuing to escalate, despite the West’s efforts to abate the attacks by Yemen’s Houthis, Bloomberg reported.
This came after the Japanese shipping firm Mitsui OSK Lines Ltd. said that disruptions to maritime trade could last up to one year.
“We have not seen the level of threat peak, to the contrary,” Maersk’s CEO Vincent Clerc said in an interview with Bloomberg.
“The amount or the range of weapons that are being used for these attacks is expanding and there is no clear line of sight to when and how the international community will be able to mobilize itself and guarantee safe passage for us,” Clerc added.
“You need to have a de-escalating situation, and we are not at that point yet,” Norden’s CEO Jan Rinbo commented.
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