ShippingWatch said the pact would involve shipping companies agreeing to not go to Israel in return for being allowed through safely.

The new offering, consisting of nine vessels, will provide the Georgia Ports Authority with access to ten services via the Suez Canal, including nine routes to the Indian subcontinent.

Since the Houthi attacks began, an estimated 181 vessels have been rerouted around Africa, while another 26 ships are opting to drift

Russia says it regards all cargo ships in the Black Sea bound for Ukraine as potential military targets, and mines remain a constant threat.

The Chinese military has held major military drills around Taiwan twice since August 2022 because President Tsai Ing-wen met senior U.S. lawmakers.

By contrast, both Maersk and CMA CGM said they were devising plans to gradually increase the number of ships they send through the Suez Canal.

Other shipping giants including Mediterranean Shipping Company (MSC), CMA CGM and Hapag-Lloyd have also been avoiding the Red Sea route because of the increased threat of attacks.

Capital Product Partners entered into an umbrella agreement with Capital Maritime & Trading Corp. and Capital GP on November 13, 2023 to acquire 11 LNG vessels from Capital Maritime.

DTN said the feature will allow ship owners and charterers to better plan for and adapt to potential voyage disruptions that can affect a company’s performance, bottom line or emissions.

Ikea said it’s looking for other options to secure the availability of its products, many of which normally pass through the Red Sea and the Suez Canal.