Already almost 20 shipping companies bypass the Red Sea, IMO

The International Maritime Organization (IMO) reports that already about 18 shipping companies have decided to bypass the Red Sea due to the threat from the Yemeni Houthis.

IMO Secretary General Arsenio Dominguez emphasized the importance of ensuring the safety of seafarers, freedom of navigation and stability of supply chains.

“The shipping route through the Red Sea accounts for 15% of world trade, and about 18 shipping companies have already decided to divert their vessels around South Africa to reduce the risks,” Dominguez said.

Dominguez added that this requires 10 additional days of travel, leading to higher freight rates and adversely affecting trade.