From mid-December onwards, shipping companies and their clients and charterers started to avoid the risky Gulf of Aden and Bab al Mandeb sea strait (30 km), which is the entrance to the Red Sea and the route to the Suez Canal. And these numbers are still increasing. In the ...
BCC trade policy head William Bain said: “This research gives us immediate insight into the impact of Red Sea disruption on UK businesses. “There has been spare capacity in the shipping freight industry to respond to the difficulties, which has bought us some time. And recent Office for Nat...
However, the disruption was promptly elevated due to the ongoing ocean shipping challenges because of low water levels in the Panama Canal. Not only were some vessels re-routed to the Suez Canal to avoid the Panama Canal before the conflict escalated, the ongoing drought in Panama leaves ...
The crisis in the Red Sea will continue to impact the market until the end of June, according to shipping association Bimco's latest forecast. The association added that it cannot accurately forecast how long the Red Sea crisis will last, but a quicker resolution will reduce the increase in ...
The disruption caused by Houthi attacks on cargo ships in the Red Sea is forcing U.S. retailers to rethink how they handle back-to-school and holiday shipments, according to the National Retail Federation. The Red Sea is an important shipping conduit for the Suez Canal, ...
Concerns over an ongoing disruption to international trade have led to a notable spike in container shipping prices on major global routes during a week characterised by rising tensions and military manoeuvres in the Red Sea. The U.S. and U.K. airstrikes in Yemen, which were intended to ...
Maersk CEO: We expect Red Sea disruption until at least the end of the year Vincent Clerc, CEO of Danish shipping giant Maersk, discusses the company's second-quarter results, Red Sea rediversions and what container demand is showing about the global economy. Wed, Aug 7 20245:52 AM ED...
in Nigerian waters have been surpassed by bothGhana and Angola, with “two-thirds of incidents taking place while ships were anchored or berthed.” The frequency of piracy along the African coast could potentially increase in the event that additional shipping is diverted away from the Red Se...
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Danish shipping giant Maersk said Friday it would extend its diversion of vessels from the Red Sea for the "foreseeable future." The diversion means avoiding the quickest path between Europe and Asia through Egypt's Suez Canal, and taking the longer Cape of Good Hope route around southern Afric...