Maersk could lose $25 million in revenue if the vessels remain inactive for ten days

The war in Iran has left 10,000 merchant crew members and hundreds of vessels idle in the Persian Gulf

The Danish shipping giant Maersk reported that ten of its container ships are trapped in the Upper Gulf. Numerous other Maersk ships are en route to the region .According to an analyst, the shipping line could lose $25 million in revenue if the vessels remain inactive for ten days, which could lead to even higher losses.

CNN and the Wall Street Journal interviewed Vincent Clerc separately, and he said that the Danish carrier's ships are "stuck in the Upper Gulf" and cannot leave the region. Clerc explained that, as a safety measure, the vessels have been grouped offshore and away from ports that are under attack. According to data on maritime identification websites, at least one ship is under contract to the U.S. government’s Military Sealift Command.

Trump administration's repeated denial of naval escorts to shipping lines

Clerc said that a week to 10 days would be needed for the world's second-largest liner (MAERSK-B.CO) to resume normal operations, even if a ceasefire allowed vessel traffic to begin moving. The Trump administration's repeated denial of naval escorts to shipping lines, despite their requests, has led to significant frustration, as highlighted by Clerc's remarks. In briefings, carriers have been told that the Strait is still too dangerous for transit.

Iran used unmanned boats to attack two tankers

On Wednesday, Iran used unmanned boats to attack two tankers and deployed missiles and drones to target ports, airports, and other land-based facilities in the Gulf region. One container ship sustained damage from unidentified projectiles. Clerc said that Maersk is prioritizing the safety of its crews, ships, and customers’ cargo and will only resume voyages if that safety is guaranteed.

Related : Maersk suspends FM1 and ME11 services amidst the security crisis in the Gulf.

Related : Maersk :Suspend operations for all vessels Crossing the Strait of Hormuz

At an industry conference in Connecticut

At an industry conference in Connecticut, shipping executives said that the war in Iran has left 10,000 merchant crew members and hundreds of vessels idle in the Persian Gulf. Since most airlines have suspended flights into and out of the area, mariners have little choice but to stay with their ships. Like other major carriers, Maersk has suspended or rerouted some services to and from Gulf states. The company is rerouting vessels via alternate hubs to store cargo until the Strait of Hormuz reopens. The company has also assessed shippers with a number of emergency surcharges.

 Maersk is in “uncharted territory.

Clerc said that the closure of Hormuz and related disruptions in the Red Sea have had “profound” effects on global shipping and supply chains, and that Maersk is in “uncharted territory.”He added that bunkering terminals in Asia and the Middle East could run dry amid the disruption of fuel supply chains and warned that added costs for diversions and delays will be passed on to customers.

Source : Agencies 

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