Maersk has suspended its services that connect the Far East to the Middle East and the Middle East to Europe, as well as its shuttle service in the Gulf region, “until further notice,” the company said in a Friday (March 6) advisory.
The company said it made this decision to ensure the safety of its personnel and vessels and to minimize operational disruption across its wider network.
“We remain committed to minimizing the impact on your supply chain,” Maersk told its customers in the advisory. “If however changing conditions require us to make further adjustments or undertake other contingency measures, we will communicate the updates to you promptly.”
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CNBC reported Friday that the war has halted shipping traffic through the Strait of Hormuz, and that container shipping giants have been rerouting vessels around the southern tip of Africa since the war began on Saturday (Feb. 28).
The situation has left 147 container ships stuck in the Persian Gulf, which has affected global markets by causing delays, port congestion and higher prices, according to the report.
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PYMNTS reported in June that the Strait of Hormuz, which provides the only sea passage from the Persian Gulf to the open ocean, is one of the world’s most strategically important choke points. About 20% of global oil and gas flows through the passage.
At that time, it was reported that the Iranian parliament approved a measure to close the Strait of Hormuz in response to a U.S. attack on three Iranian nuclear enrichment facilities.
For chief financial officers and finance leaders, the closure of a single maritime chokepoint can upend entire industries, disrupt revenue forecasts and force companies to reevaluate sourcing and logistics strategies, PYMNTS reported.
Prior to the start of the current conflict, it was reported that importers in the United States were anticipating favorable deals as they negotiate their ocean shipping contracts for 2026 because supply was exceeding demand when it comes to container space.
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