The situation in the Red Sea and off the coast of Africa remains tense. In addition to Houthi attacks on ships, another problem has emerged – Somali pirates have reappeared after a 10-year lull.
Shipping companies are increasing the cost of cargo delivery by $200-1000 due to the risks in this region. In March, it was reported that despite the conflict off the coast of Yemen, Somali pirates have once again started attacking ships. The Indian Navy is actively engaged in apprehending these pirates.
Due to these threats, carriers are taking measures to ensure security. Some foreign shipping companies are increasing the cost of transporting goods by $200-300 to $1000 per container when passing through the Red Sea and the African region in order to protect their vessels from potential risks. They began this practice earlier in the year to ensure security when passing through the Suez Canal. This was reported by the partners of the transportation and logistics company Asia Import Group.
Cargo owners can also insure their goods at a low cost, usually not exceeding 1% of the value of the goods. In case of damage to the cargo, importers have the opportunity to receive compensation. Overall, although the threats to ships carrying goods in this region are minor, carriers continue to take measures to ensure security.