A cargo ship crosses the Suez Canal, one of the most critical human-made waterways, in Ismailia, Egypt on December 29, 2023. (Photo by Fareed Kotb/Anadolu via Getty Images) Anadolu | Getty Images The threat to global trade in the Red Sea remains high, even with efforts to protect commercial vessels from attacks by Iranian-backed Houthi … Read more
With the Red Sea diversions by shipping companies including Maersk continuing amid the risk of attacks by the Houthis, global logistics managers are faced with a two-front storm of rising ocean and air freight prices and stranded cargo. Both are threats to the global supply chain after three tumultuous years of inflationary pressures and delays … Read more
Ikea warned of delays on some products due to the mass diversion of shipping containers from the Red Sea over safety concerns. “The situation in the Suez Canal will result in delays and may cause availability constraints for certain IKEA products,” a spokesperson said by email Thursday. They added that the safety of staff working … Read more
A container ship sails through the new section of the Suez Canal in the Egyptian port city of Ismailia, 135 kms northeast of the capital Cairo on October 10, 2019. Khaled Desouki | AFP | Getty Images Attacks by Iran-backed Houthi militants on ships in the Red Sea have already rocked global trade. And there … Read more
An oil tanker anchored in the Red Sea off the coast of Yemen’s contested western province of Hodeida on July 15, 2023. Mohammed Huwais | Afp | Getty Images Oil prices traded marginally higher Tuesday as tankers shun the Red Sea on the back of heightened attacks by Iran-backed Houthi militants which have disrupted international … Read more
Danish shipping giant Maersk confirmed on Tuesday that its vessels due to transit the Red Sea and Gulf of Aden would take the Cape of Good Hope route around the south of Africa after a spate of attacks by Houthi militants from Yemen. Along with a host of other firms, the company had previously announced … Read more
