Chairman of the Suez Canal Authority (SCA) Ossama Rabie discussed the current situation in the Red Sea and Bab el-Mandeb region and their impact on the sustainability of global supply chains.
Rabie met with Secretary General of the International Chamber of Shipping (ICS) Guy Platten and Head of Marine and Aviation at Lloyd's Market Association (LMA) Neil Roberts via video conference.
Rabie stressed the Authority's keenness to promote cooperation with all the international maritime organizations and institutions.
He indicated that the SCA discussed the repercussions of the current crisis with its clients and presented insights on facing the related challenges to minimize its impact on global trade.
The official explained that the current crisis requires the consolidation of all efforts, the exchange of viewpoints on its repercussions, and the identification of its tangible impacts on global supply chains and all the sectors related to maritime transportation, including the naval insurance sector. The sector is witnessing increased costs for vessels passing through the Red Sea and Bab el-Mandeb Strait.
For his part, Platten expressed his appreciation of the SCA's efforts to achieve effective communication with all the key players in the maritime community.
He emphasized the positive impact of communication on understanding the current conditions in the maritime transport market and the consecutive variables it witnesses.
Also, the LMA chief clarified that the ongoing tensions in the Red Sea region have led to numerous concerns among ship owners and shipping lines regarding the safety of the vessels and crews, eventually leading to increased maritime insurance costs.
Roberts stressed that for matters to return to normal, there needs to be a de-escalation of the situation and a recovery of the international maritime community's confidence.
