author: Tyler Durden
Written by Stuart Chris of FreightWaves
Ocean lines flee the Strait of Ormuz as Iran attacks ports in the Persian Gulf
While tankers were shelled in the Ormuz Strait, container lines suspended operations to Gulf ports after a joint Israeli-American attack on Iran.
The media reported that ports in the United arabian Emirates and the port of Jebel Ali in Dubai were hit by Iranian missiles, and Tehran attacked at least 3 tankers in the strait. The fire broke out in Jebel Ali after the incoming drone was intercepted.
Although the Strait was not officially closed, respective linear operators suspended operations in the Gulf and ordered their units to search refuge.
Hormuz is the gateway to energy transport in the Persian Gulf, and about 20% of planet oil resources flow through its waters. While future contract prices have risen late on Sunday, analysts note that 80% of Iranian oil is sold to China, so it is unclear how long-term impact can have on global markets.
The British Maritime Operations Center, which monitors maritime safety in the mediate East and the Indian Ocean region, reported a series of attacks on ships on Sunday.
The ships were active in the crossfire after Tehran responded after the Saturday Epic Fury attack in which the Iranian leader, Ajatollah Ali Chamenei, and another high-ranking government and military officials died.
US Central Command Sunday denied Iran's claims that USS aircraft carrier Abraham Lincoln was hit by a ballistic missile.
Maersk, CMA CGM and Mediterranean Shipping Co. suspended or transferred ship connections to this region.
CMA CGM besides announced an Emergency Conflict Additional of $2 000 for 20 feet, $3,000 for 40 feet and $4,000 for a refrigeration container. The surcharge includes all ports on the Red Sea in Saudi Arabia, Egypt, Jordan, Djibouti, Sudan and Eritrea, as well as destinations in the Persian Gulf.
Maersk said before the outbreak of the war that the deteriorating safety situation prompted him to redirect the MECL service to the United States and ME11 to Northern Europe, distant from the way via the Suez Canal and around Africa. The aircraft carrier only late resumed regular rotations in the Red Sea.
Supported by Iran, Huti rebels in Yemen warned that they would resume attacks that almost entirely prevented Suez crossings for the largest container carriers since the end of 2023.
"There is no real alternate to the introduction or tipping of containers from ports specified as Jebel Ali by sea if the Persian Gulf is not available," said analyst Xenaty, Peter Sand, in an email to FreightWaves. "Lines will alternatively skip these connections on east-west services and drop boxes in at least the worst alternate port for further road transport. This will origin serious disruption and congestion of ports at regional level, but will not have a crucial global impact compared to the seismic impact of the conflict in the Red Sea."
Sand noted that ex-Asia container rates had increased since February 15 as US forces concentrated close the Gulf.
Translated by Google Translator
source:https://www.zerohedge.com/