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
A container ship from China-owned Cosco Shipping on Aug. 7, 2023. Justin Sullivan | Getty Images News | Getty Images Chinese state-owned shipping giant Cosco suspended shipping to Israel through the Red Sea as tensions in the strategic shipping lane continue to rise, Israeli state media reported. The specifics of Cosco’s decision remain undisclosed, according … 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
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
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
Tihama, a Maltese Flag container ship of shipping line Hapag-Lloyd, at a European dock on August 13, 2022. Thierry Monasse | Getty Images News | Getty Images BP has become the latest firm to pause travel through the Suez Canal following a series of attacks on vessels by Houthi militants from Yemen. In a statement Monday, BP said … Read more
Barges of coal on the inland harbor in Duisburg, on the river Rhine in Germany, on Thursday, July 20 2023. Ben Kilb | Bloomberg | Getty Pictures The drought in Europe isn’t solely inflicting wildfires and dangers to meals safety however can also be threatening the shipments carried on the continent’s rivers, attributable to falling … Read more