IAMTrusted member, DASA International Movers, has provided the latest update related to the moving and relocation industry, reporting that the maritime security situation in the Strait of Hormuz has deteriorated significantly.
Chief Executive Officer, Craig Reilly, highlighted that three commercial vessels were struck by projectiles between 10 and 11 March, resulting in a near total collapse in traffic through the Strait. Daily movements have fallen from an average of 138 vessels to just seven in the past 24 hours. Air freight rates on Asia to Europe lanes have increased by roughly 50 percent as shippers mitigate the maritime risk.
- Ocean Freight: Maersk, MSC, and Hapag-Lloyd have suspended all new bookings for Upper Gulf and UAE ports as of March 11.
- Air Freight: Emergency air corridors operating at approximately 48 flights per hour are maintaining essential cargo flows, coordinated by the International Civil Aviation Organization.
- Land & Warehousing: Saudi Arabia’s Mawani authority has activated road corridors to redirect Eastern Province cargo toward Red Sea ports. Etihad Rail has moved 459,000 tonnes, approximately 8,000 containers, within just nine days. DP World continues to maintain bonded road connections to Jebel Ali, allowing critical supply chains to function despite restrictions affecting inner Gulf routes.
IAM will continue to update members on this volatile situation, impacting household goods moves.