Maersk warned that the disruption to shipping in the Red Sea could last for months

Vincent Clerc, chief executive of shipping giant Maersk, warned that it could take months to reopen the vital Red Sea trade route, which could send economic and inflationary shocks to the global economy, businesses and consumers.

In an interview with the Financial Times, Vincent Clerc said the disruption to most container traffic in the Red Sea due to a series of attacks by Houthi fighters in Yemen was "extremely severe and very dramatic". He added that there were "no winners" because ships were forced to bypass South Africa, resulting in longer voyages and higher costs. "We don't yet know how long it will take to re-establish safe passage through the Red Sea, it could be days, weeks or months... This could have a significant impact on global growth."

As a leader in global shipping, Maersk carries about one-fifth of all cargo shipped by sea. Clerc urged the international community, led by the United States, to do more to ensure safe passage for ships after an escalation of attacks in the Red Sea region.

An attack on one of Maersk's vessels in mid-December led the Danish group to suspend its route through the Red Sea. The Red Sea, a vital link between Asia and Europe, reopened days later after a US-led military coalition tried to establish safe passage. However, it was attacked again in late December. Last week, Maersk announced it would divert ships from the Red Sea to Africa for the "foreseeable future".

Maersk's chief executive, Vincent Ko, said the re-routing of container ships to the Cape of Good Hope would add about 13,000km to the Asia-Europe round-trip route and cost hundreds of dollars per container. He added: "Inflation has become a big concern at the moment and that puts inflationary pressure on our costs, our customers and ultimately European and US consumers." "In the short term, there could be major disruptions in late January, February and early March," he warned.

As ships take longer routes, Maersk's fuel bill will increase by 50%. If the current problem is not addressed, there will be chaos in the dispatch of vessels, which in turn threatens the stability of global logistics and supply chains.

Maersk's chief executive Officer, Vincent Ko, stressed: "We urge the international community to move quickly to resolve the reopening of the Bab el-Mandeb Strait. This critical waterway, the lifeblood of the global economy, is stagnating."

"This will have a profound impact not only on the shipping industry but also on consumers, product supply and the global economy as a whole," he added. Maersk's share price has risen by a quarter in the past month as container rates have risen.