sea transport accounts for 30 percent of all shipping containers and 90 percent of all global trade in goods, worth $14 trillion USD. The Red Sea, via the Suez Canal, is not only one of the most travelled commerce routes in the world, but it is also the ...
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, ...
Just as we thought the worst is over in this post-COVID-19 era, shipping costs are escalating once again, but under different circumstances. The crisis in the Near East which surfaced in late 2023 is bringing about new challenges for industries shipping goods across the globe.Infofish Full...
With shipping lines planning GRIs and rate hikes, one forwarder told The Loadstar “forwarders will also take advantage of this”. The source said forwarders would also increase rates if carriers did not honour their contracts, and would use the situation to revisit all low-margin contracts – ...
Freight 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 supp...
Maersk CEO warns that Red Sea related disruptions to container shipping have expanded By admin On July 18, 2024 In Insurance Marine News, Keep, Political Risk, Credit & Finance You need to be logged in to view this content. Please Log In. Not a Member? Join Us...
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...
Second, although the Red Sea crisis also has a certain impact on China's textile and clothing exports to Europe (the routes in Europe and the Middle East have been empty), on the one hand, China Europe trains are more alternative to shipping. The space of China Europe trains has been bo...
Adding to the concerns, four major container shipping companies -- MSC, Maersk, CMA CGM, and Hapag-Lloyd -- have suspended Red Sea sailings since Dec. 15. This, in turn, has driven up freight rates on the Asia-Europe route. Data from the Shanghai Shipping Exchange shows the market frei...
The Lasting Impact of the Red Sea Diversions on Shipping Costs Trine Nielsen, Senior Director, Head of Ocean, EMEA May 2, 2024 The world of global trade experienced a seismic shift in December 2023 due to the unexpected Red Sea diversions. Originally triggered by sudden capacity reductions, exa...