Maersk posted on 12 June 2024 an update titled "Navigating Challenges in the Red Sea and Beyond."
About 30 percent of global container traffic previously travelled through the Suez Canal and Red Sea. Because of Houthi attacks on international shipping, Maersk, one of the largest users of this route, is now sailing around the Cape of Good Hope and avoiding the Suez Canal and Red Sea. This has increased fuel costs by about 40 percent, caused delays and congestion in key ports such as Singapore and Shanghai, and has reduced industry wide shipping capacity by 15-20 percent.
