A cargo ship crosses the Suez Canal, one of the most critical human-made waterways, in Ismailia, Egypt on December 29, 2023. Fareed Kotb | Anadolu | Getty Images The world’s largest shipping company, MSC, and several retail and trade experts warned Congress on Tuesday that if the Red Sea chaos caused by Houthi rebel attacks … Read more
Houthi supporters hold up rifles as they rally to protest the killing of Saleh al-Samad, a senior Houthi official, by a Saudi-led coalition air strike in Hodeidah, Yemen April 25, 2018. Abduljabbar Zeyad | Reuters The U.S. State Department on Wednesday designated the Iranian-backed, Yemen-based Houthi rebels as specially designated global terrorists, or SDGTs, in … Read more
View of stranded boats at Alhajuela Lake during the summer drought, in Colon province, 50 km north of Panama City, Panama, on April 21, 2023. The Alhajuela lake is one of the main lakes that supplies water to the locks of the Panama Canal and is at its lowest level of recent years. Luis Acosta … Read more
A ship transits the Suez Canal towards the Red Sea on January 10, 2024 in Ismailia, Egypt. Sayed Hassan | Getty Images U.S. shipping costs are spiking as attacks in the Red Sea disrupt global trade, raising fears that inflation might pick up again if the disruption persists. The diversion of container ships from the … Read more
Ongoing disruption to trade flows through the Red Sea could hit global economic growth, the head of one of the world’s largest container shipping firms said Thursday. Maersk CEO Vincent Clerc said it remained unclear whether passage through the waterway would be re-established in “days, weeks or months,” in comments first provided to the Financial … Read more
Loaded containers stacked on top of a cargo ship sailing in a canal on Janvier 20, 2017 in Suez Canal, Red sea, Egypt. Camille Delbos | Corbis News | Getty Images WASHINGTON — The strong December jobs report released Friday capped off a year of economic wins for the Biden administration. Now, global shipping delays … Read more
The Maersk Sentosa container ship sails southbound to exit the Suez Canal in Suez, Egypt, on Thursday, Dec. 21, 2023. Stringer | Bloomberg | Getty Images Danish shipping giant Maersk said Friday it would extend its diversion of vessels from the Red Sea for the “foreseeable future” due to safety concerns amid a spate of … Read more
The Marriner S. Eccles Federal Reserve building in Washington, DC, US, on Thursday, Dec. 28, 2023. Valerie Plesch | Bloomberg | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. … Read more
The Marriner S. Eccles Federal Reserve building in Washington, DC, US, on Thursday, Dec. 28, 2023. Valerie Plesch | Bloomberg | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. … Read more
Shipping giant Maersk saw a second session of strong gains Wednesday, as investors assessed a ratings upgrade and its decision to prolong a halt on Red Sea travel due to safety concerns. The Danish firm topped Europe’s Stoxx 600 gainers, with its Copenhagen-listed shares up 4% in early afternoon trade following Tuesday’s 6.4% rise. Shares … Read more
