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Red Sea Update: Charterers Reassess Risk And Trade Lanes Shift

Key data from Lloyd’s List Intelligence for the week ending January 28, 2024:

  • The number of cargo-carrying active vessels (10,000dwt+) that are not berthed or anchored in the Red Sea fell to 199 in the week ending January 28, down from 221 last week and 366 in the corresponding week last year.

  • The number of cargo-carrying vessel (10,000dwt+) transits through the Suez Canal is down 16% week on week and down 45% compared to the same week in 2023.

  • Cargo-carrying vessel (10,000dwt+) transits around the Cape of Good Hope are up 4% from last week and 78% higher year-on-year.

  • Tanker operators are rerouting vessels away from the Red Sea in the wake of a Houthi attack which left a Trafigura-chartered vessel in flames over the weekend.

  • The weekly daily average of active ships in the Red Sea was 229, down from 255 the week prior and down from 367 over the same period last year.

Note: Only includes cargo-carrying vessels over 10,000 dwt that are not berthed or anchored  A report from posted on February 2, 2024.


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