Shipping container rates are spiking, as tariffs increase and shipping lines look for alternative routes after six weeks of attacks on commercial ships in the Red Sea by Iran-backed Houthi militants. "The main issue today is the Red Sea conflict because ships have to take longer routes to reac...
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...
Some have opted for a temporary suspension of their Red Sea services, choosing the longer, but safer route around the Cape of Good Hope in South Africa. However, this switch adds extra transit time and hundreds of thousands of dollars in fuel costs to the supply chain. Map: According to ...
Geng spoke at a Security Council open meeting about Houthi rebel attacks in the Red Sea, amid a growing threat of spillover from the ongoing Israel-Hamas conflict. Geng said the Red Sea is an important corridor for the transportation of goods and energy. Ensuring the smooth flow of the wate...
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 ...
forwarders have turned to rail services between China and Europe, backed by the Belt and Road Initiative, as a transportation alternative in light of disruption to international shipping caused by the Red Sea attacks, emphasizing the rail route's strategic importance in stabilizing global supply ...
The attacks in the Red Sea, which handles about 12% of world trade as a key waterway for goods and energy, have emerged as a fresh threat to global supply chains and an extension of the hostilities in Gaza. Austin, speaking at a briefing in Tel Aviv earlier December 18 with hi...
19 as investors continued to assess the impact of supply chain threats that Middle East instability has posed. NYMEX January WTI settled 97 cents higher at $73.44/b and ICE February Brent climbed $1.28 to $79.23/b. Following the escalation of attacks on cargo vessels in the Red Sea, the ...
As the world grapples with the ongoing Red Sea crisis and other potential disruptions, businesses must prioritize supply chain resilience and agility. Share your thoughts and experiences in the comments below. How has your organization adapted to recent supply chain challenges? What strategies have pr...
Egypt’s Suez Canal revenue plunged by almost half in January, a top official said, after attacks by Yemeni militants on Red Sea vessels forced major shipping firms to avoid the waterway. Income was about $428 million in January 2024, compared with $804 million for the same period...