HMM, South Korea’s largest container carrier, has suspended new cargo bookings to the Middle East and begun diverting vessels as security risks in the region intensify and concerns grow over potential disruptions in the Strait of Hormuz.
The company said Tuesday it would temporarily stop accepting new shipments bound for Middle Eastern destinations, citing heightened uncertainty that makes it difficult to guarantee the safety of vessels, crew members and cargo.
Cargo already en route to the region will be redirected to alternative ports considered safer instead of continuing along original routes, the company said.
The diversion is expected to add about $1,000 in additional costs per container. For now, the measure applies to three container ships operating routes between India and the Middle East.
HMM, formerly known as Hyundai Merchant Marine, operates container shipping services across major global trade lanes.
Several major shipping lines have already curtailed services to the region. Mediterranean Shipping Company, Maersk and CMA CGM halted Middle East cargo services earlier this month as security risks increased, while imposing additional surcharges ranging from $2,000 to $3,000 per container.
HMM said the move was part of a coordinated response within the Premier Alliance shipping partnership.
A company official said HMM would seek to resume services as soon as conditions allow while continuing to monitor the regional security situation.
Shipping operations to regions outside the Middle East remain unchanged, the company added.
