Africa’s maritime corridor around the Cape of Good Hope is continuing to benefit from growing instability in the Middle East after shipping giant Maersk confirmed it will continue avoiding the Strait of Hormuz, further reshaping global trade routes and boosting Africa’s importance in global shipping and fuel supply chains.
In its latest Middle East operational advisory issued Tuesday, Maersk said the regional security environment remains “highly volatile” and “deeply dynamic,” warning that “full maritime certainty” has not yet returned despite recent ceasefire efforts involving the United States and Iran.
“Volatility persists in the situation. In coordination with our security partners, we have assessed that as of now, transit through the Strait should be avoided,” the company said.
Maersk, the world’s second-largest container carrier after MSC Mediterranean Shipping Company, operates in 130 countries, moves about $675 billion worth of goods annually and runs a fleet of roughly 675 vessels.
The company said any decision to resume Hormuz crossings would depend on continued security assessments and guidance from authorities and industry partners.
