The Red Sea/Suez shipping situation is very tense and complex right now. These attacks have raised security concerns and prompted some shipping companies to pause or reroute their shipments through the Red Sea and the Suez Canal. The Suez Canal is a vital trade route that connects Asia and Eu...
Since October 2023, the Houthi, an Iranian-backed Zaydi Shi’a militia operating under the alias Ansar Allah, have engaged in violent operations against international shipping in the vital Red Sea trade route using Iranian missiles, drones, and marine vessels. After Hamas’ incursion into Israel...
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, ...
The Security Situation in Yemen Impact on Ocean Carriers and Ports Rising Ocean Freight Rates Shift to Alternative Shipping Methods Access real-time freight rate data with Freightos TerminalBook Demo The Red Sea Crisis: The Data Points With Lunar New Year just around the corner, the global...
"So far, it almost seems the Houthi attacks are just increasing," said Bendik Folden Nyttingnes, a shipping analyst at Clarksons Securities. In an email to clients, Honour Lane Shipping (HLS) said its carrier contacts are "informally" predicting the Red Sea situation will not be solved...
Read the latest developments of the Red Sea situation, compiled by the Ocean Freight Experts of DHL Global Forwarding.
Amir-Abdollahian said the developments in the Red Sea were interconnected with the situation in Gaza and the behavior of the United States and Israel toward Palestinians while underlining the importance of ensuring international shipping security. ...
Maersk first paused its shipping in the Red Sea and the Gulf of Aden in December, but briefly resumed operations in the area after the Pentagon announced the formation of an international mission,Operation Prosperity Guardian,to counter the attacks by the Houthis. ...
the original shipping distance was over 2,700 kilometers, which could be reached in about 22 days. However, due to the Red Sea situation, detouring from Singapore around the Cape of Good Hope takes approximately 35 days, resulting in a delay of more than 10 days and an increase in costs...
The dangerous situation in the Red Sea, where commercial ships have come under attack from insurgents in Yemen continues to attract attention from both within and outside the maritime business. In the latter category, we can add investors in the shares of shipping companies- notably in the ...