Maersk expects industry-wide Q2 2024 capacity loss of 15-20%

As the complexity of the situation in Red Sea has intensified over the last few months, Maersk is rerouting around the Cape of Good Hope for the foreseeable future, it said in an advisory.

“However, the risk zone has expanded and attacks are reaching further offshore. This has forced our vessels to lengthen their journey further, resulting in additional time and costs to get your cargo to its destination for the time being,” it said.

The knock-on effects of the situation have included bottlenecks and vessel bunching, as well as delays and equipment and capacity shortages, it observed.

The firm said it is doing what it can to boost reliability, including sailing faster and adding capacity.

It has added capacity, where possible, in line with customers’ needs. So far, it has leased more than 125,000 additional containers.

“You will see relevant surcharges on your latest invoices. These are to offset the costs of the longer journeys, increased sailing speed and additional fuel costs. For example, we are currently using 40 per cent more fuel per journey and charter rates are currently three times higher, often fixed for five years,” the advisory said.

While it reduced the peak season surcharge recently, it has been increased again to help cover the additional costs mentioned above, it added.

Fibre2Fashion News Desk (DS)