Maersk: up to 20% freight drop due to attacks in the Red Sea

Danish company Maersk reports increased disruption to container shipping in the Red Sea and predicts that this will lead to a 20% reduction in capacity on routes between Asia and Europe in the second quarter.

In an update to customers, the company notes that "the risk zone has expanded and attacks are moving further out to sea," requiring additional vessel travel time and resulting in additional time and cost for cargo delivery.

Maersk's fuel costs on the affected routes between Asia and Europe are now up to 40% higher per voyage. Maersk expects the disruption to last at least until the end of 2024.