Carriers have introduced more than 50 surcharges across over 100 different trade routes. Additionally, certain additional services, such as Freetime, may be reduced as the focus shifts towards ensuring the prompt return of equipment. Outlook
Spanish Port Traffic Surges Due to Red Sea Crisis More Reuters FILE PHOTO: Flames and smoke rise from the damaged Greek-flagged oil tanker MV Sounion, which has been on fire since August 23, after an attack by Houthi militants, on the Red Sea, September 15, 2024 in this handout image....
Red Sea shipping issues have been the hot topic this quarter for phenol, acetone and their derivatives, with import delays opening up domestic demand opportunities and leading to a firmer price sentiment in some markets. Rising feedstock and sea freight costs are a key area of focus. But these...
The escalating situation in the Red Sea has forcedTeslato halt production at its gigafactory in Germany, in what marks the latest headache for Elon Musk’s car company in Europe. The carmaker said last week that production at its plant in Berlin, which makes Model Y vehicles and batteries, ...
However, rather than deterring the Houthis, this military intervention has catalyzed an escalation, with the rebel group broadening its targeting to include U.S. and British naval vessels operating in the Red Sea. PERSISTING RED SEA CRISIS JEOPARDIZES REGIONAL PEACE ...
As an important link connecting regions worldwide, exploring this transmitted from the Red Sea to global maritime shipping networks can help estimate the crisis losses. Challenge (2): How can the future impact on shipping networks evolve with the RSC? Research on the RSC is ongoing, and ...
"The Red Sea crisis has had a significant impact on Suez Canal's shipping industry, resulting in a sharp decrease in the number of passing ships," said an employee of the Aldunfah Beach Club. Industry insiders were among the first to feel the impact of the worsening situation. Khaled Tony...
Asia and Europe, hundreds of vessels are opting to suspend operations, bypass the area and navigate around the Cape of Good Hope in South Africa. There is a risk that ocean shipping in the area will remain unstable for the time being, and the Red Sea crisis being closely monitored world...
The second top concern among readers, some 27% was port congestion, an issue which in some cases can also be linked to the disruption caused by the Red Sea crisis. Of the three other issues 10% put compliance with new regulations as their top concern, 6% the availability of qualified seaf...
Jindal Stainless Limited (JSL) indicated that because of the crisis in the Red Sea, its export shipment might be impacted, and it revised its stainless steel export growth target in the fourth quarter of the fiscal year 2023-24 from 15% to around 12%. ...