The crisis in the Red Sea continues, and despite the establishment of the US-led military coalition, attacks on merchant ships continue. While some companies are still using the Suez Canal for some of their ships, most shipowners have suspended all transit via this route, preferring instead to pass through the Cape of Good Hope.
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Since November 19, ship attacks have become increasingly frequent in the southern Red Sea, a compulsory passage zone to reach the Suez Canal. While there has already been talk of shipping lines introducing a war tax as of January 1, 2024, a number of shipowners are also taking steps to bypass the zone, a measure that will have a greater impact on the entire supply chain, with immediate effect.
Areas of tension at the Panama and Suez Canal, two major crossing points. Since the end of August, the Panama Canal authorities have been informing us of a severe drought, forcing them to limit the number of daily ship passages and reduce their draught. The rainy season is drawing to a close, and the drought is still very much with us. The Suez Canal, meanwhile, has been hit by attacks on cargo ships in the southern Red Sea.
International customs operations are based on three essential pillars: tariff classification, origin and value. Defined in article 28 of the national Customs Code, tariff classification is the name assigned to goods in the Common Customs Tariff, which comprises some 15,500 classification headings. An essential classification for all companies operating internationally.