Data issued by the London Stock Exchange Group showed that Russia is shifting its shipments of liquefied natural gas to China to the Cape of Good Hope. Due to the increasing risk of attacks in the Red Sea. For its part, the French company CMA CGM – one of the largest container shipping groups in the world – said that it expects commercial shipping traffic to be disrupted for several months, with the continued Israeli aggression on the Gaza Strip.
The French company recorded a loss of $93 million in the last three months of 2023, compared to net profits of $3.04 billion in the same period of 2022.
But the group recently said that its net profits fell to $3.64 billion for the entirety of last year.
Danish Maersk warned last week that disturbances in the Red Sea may continue until the second half of this year.
The attacks prompted many shipping companies to divert their ships to the Cape of Good Hope, in the far south of Africa, which extends the journey between Asia and Europe for about a week, which is a long and expensive route.
The Mediterranean Shipping Company temporarily suspended transit in the Red Sea. The German shipping company Hapag-Lloyd also announced that the measure to suspend traffic in the Red Sea will remain in effect.
Navigation data through the Suez Canal during the past year show the passage of more than 21 thousand ships on average, with oil tankers making up about 30% of the ships passing, while liquefied petroleum gas tankers make up 3.3%, and liquefied gas tankers make up 3.2%.
Actions to avoid the Red Sea
International energy companies have taken measures to avoid the passage of ships carrying oil, gas and refined products in the Red Sea, and this comes as tensions continue in this shipping lane.
The following is the position of major international energy companies regarding the continuing tensions in the Red Sea:
- France’s Total Energies has refrained from sending ships through the Bab al-Mandab Strait for weeks.
- British company BP stops all ship crossings in the Red Sea.
- The Norwegian company Equinor changed the course of ships that were heading towards the Red Sea.
- Italian Edison Company, slowdown in the company’s supply of liquefied natural gas.
- Qatar Energy, using alternative sea routes to the Red Sea to deliver liquefied gas shipments.
- American company Valero Energy, Red Sea attacks lead to higher crude oil shipping prices.
Targeting the Houthis
On Saturday morning, the United States carried out an attack on Houthi positions in the city of Hodeidah, western Yemen, overlooking the Red Sea, while the Yemeni government said that the attack hit two fishermen’s boats, and led to the death of some of them and the loss of others.
The Houthi Al-Masirah satellite channel reported that an American-British bombing targeted the Al-Jabanah area, west of the city of Hodeidah, with two raids.
The US Central Command explained on the X website that the Houthis launched – yesterday, Friday – an anti-ship ballistic missile towards the Red Sea from Yemen.
Over the past weeks, the city of Hodeidah has been subjected to a large number of American and British raids, in an attempt to limit the capabilities of the Houthis.
In “solidarity with the Gaza Strip”, which is facing a devastating Israeli war with American support, the Houthis targeted, with missiles and drones, Israeli cargo ships, or those linked to them, in the Red Sea, stressing the continuation of their operations until the end of the war on the Strip.
Since the beginning of this year, the “Guardian of Prosperity” coalition, led by Washington, has launched raids that it says target Houthi sites in various regions of Yemen, in response to its attacks in the Red Sea, which has been met with a response from the group from time to time.
