Business impact of the Red Sea crisis

As attacks intensified the majority of owners and operators opted to divert their vessels via the Cape of Good Hope adding thousands of miles and up 14 days to transits, as well as hefty additional fuel costs.

In our latest poll on Seatrade Maritime News we asked readers how much the Red Sea crisis had affected their business.

The largest portion of respondents – some 45% - said significantly, while 15% said there had been an impact to “some extent”, and 14% said had been “not much” affected by the crisis.

Of the remaining 40% of respondents some 8% said they had seen no impact on their business, and another 18% said they had not seen an impact yet but expected to in the future.

Pie chart of Red Sea business impact

At the time of writing the majority of ships continue to reroute via the Cape and while the number of missile and drone attacks by the Houthis have fallen off, there is little sign of resolution to the situation.

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Business impact of the Red Sea crisis - reader poll results