The attacks on commercial ships in the Red Sea by Yemen’s Iran-backed Houthi rebels have rerouted trade that normally flows through the corridor.
No quick fix for Red Sea shipping risks, impact potentially drags on to 2Q 2023 ended with new disruptions for trade and supply chains following the security crisis in the Red Sea and there’s no end in sight yet. To avoid Houthi militant attacks on their vessels in the Gulf ...
Recent attacks on vessels in the Red Sea have led major shipping companies to halt shipments through the waterway which is a key route for oil, refined products, and other consumer goods. That’s raised the risk of disruptions to the transport of the world’s crude oil, and led to a ...
Clearer details are emerging over the impact to supply chains after a series of attacks against ships in the Red Sea re-routed services.
This drastic increase reflects the heightened risk of attacks and disruptions, making it more costly for shipping companies to operate in the region.Mitigating the Impact of the Red Sea CrisisSource: Reuters Future-Proofing Your Shipping Routes...
Shipping costs are increasing in significant trade routes for the foreseeable future. This trend is expected to persist at least until the Chinese New Year and possibly beyond. To address the rapid rate increases, we have decided to implement an Emergency Cost Recovery Surcharge (ECRS) ...
Meanwhile, the attacks in the area also have a financial impact on shipping, in the sensethat war risk insurance premiums for Red Sea voyages have reportedly increasedafter the multiple attacks. Latest attacks MSC confirmed that on 26 December 2023 the container ship MSC UNITED VIII was attacked...
The situation in the Red Sea and Suez Canal from attacks by Yemen’s Houthi group has resulted in concern about deliveries and the supply chain. It comes after the four largest shipping firms paused journeys through the area, including COSCO, CMA, Maersk and MSC, and which includes travelling...
Source:https://www.reuters.com/markets/commodities/how-are-red-sea-attacks-impacting-shipping-suez-canal-2023-12-18/ We are continuously working on creating a full overview of re-routed vessels and thereby also impacted containers. Our operations teams will inform you of all potential delays, an...
In the wake of escalating tensions and security threats in the Red Sea, major shipping companies are grappling with critical decisions to ensure the safety of their vessels and crews. The crisis, marked by recent attacks on container ships, has prompted a swift and varied response from industry...