A surge of attacks from Yemen's Iranian-backed Houthi rebels on ships traveling through the Red Sea continues to disrupt the global supply chain. U.S. officials say the attacks are driving up prices and delaying critical humanitarian aid deliveries. CBS News reporter Zak Hudak dives deeper into...
Analysts say the rising tensions on the Red Sea could seriously affect global seaborne trade and the world's supply chain. Salam Al-Asbahi, a retired general of the Yemeni government forces, warns that the Houthi group can disrupt the Suez Canal-Red Sea corridor, which handles about 12 percen...
Prioritising the safety of crews and vessels, major carriers including MSC, Maersk, CMA, and Hapag-Lloyd, announced the suspension of operations in the Red Sea, affecting Asia-to-Europe journeys and wider supply chain management. In recent weeks, ongoing geopolitical conflicts in the Middle East ...
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the re-routing of these vessels is a precautionary measure taken to navigate away from potentially unsafe areas. This decision is in line with Clause 10 of our bill of lading, and while we understand it may impact your logistics and supply chain operations, it is a necessary step which comes...
Oil prices are highly sensitive to turbulence in the Middle East, which hosts vast crude supply resources and neighbors key waterways. The U.S. and Britain launched strikes against Houthi targets, citing the defense of Red Sea passageways after a spate of attacks against shipping from the Yemen...
especially for complex products like semiconductors that require a lot of moving parts in the global supply chain. Just when it seemed that 2024 would be a very welcome year of “normal” supply chains, theRed Sea crisisproved that for global supply chains, there is no such thing. With this...
companies are facing three supply chain headwinds, including the Red Sea rerouting, labor negotiations at U.S. East Coast ports, and a drought in the Panama Canal. Due to the drought restricting cargo volume through the Panama Canal, Maersk recently announced plans to transport containers from ...
Supply & Capacity The ongoing conflict in the Red Sea has absorbed all additional capacity that was introduced to the market due to the longer detour around Africa. In fact, the net capacity is currently negative due to ongoing delays, congestion, route changes, and other related iss...
“Retailers continue to work with their partners to mitigate the impact of disruptions from the Red Sea and Panama Canal restrictions,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Cargo has been rerouted and goods are arriving where th...