The disruption to container shipping traffic in the Red Sea is increasing and is expected to reduce the industry's capacity between the Far East and Europe by some 15%-20% in the second quarter, shipping group Maersk said on Monday, according to Reuters.
Maersk and other shipping companies have diverted vessels around Africa's Cape of Good Hope since December to avoid attacks by Iran-aligned Houthi militants in the Red Sea, with the longer voyage times pushing freight rates higher.
The Danish company last week said that shipping disruptions caused by the Red Sea attacks were expected to last at least until the end of the year.
"We are doing what we can to boost reliability, including sailing faster and adding capacity," Maersk said, adding that it had so far leased more than 125,000 additional containers. "We have added capacity, where possible, in line with our customers' needs," the company said.