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...Vincent Clerc, Maersk’s chief executive, told the Financial Times on Thursday that the closure of the Red Sea to most container shipping after a series of attacks from Yemen’s Houthi militants was “brutal...
...That seems to be the strategy adopted by big container shipping companies....
...Most will wait a few months before making big changes in production....
...It’s up more than 60 per cent this week, as readers can see, thanks to continued Houthi attacks in the Red Sea and ongoing diversions of container ships....
...Emissions from container ships, car carriers and dry bulk ships diverting from the Red Sea are set to increase as much as 70 per cent as vessel operators increase speeds to compensate for the longer route...
...However, the route through the Strait of Hormuz had not until now been as big a concern....
...Weaker liquidity is also blamed for London missing out on big listings, such as that of UK chipmaker Arm last year....
...His company estimated that of all shipping segments only container shipping was suffering bigger upheaval as a result of the problems in the Red Sea....
...Container ship traffic through the mouth of the Red Sea in the first week of January was 90 per cent down on a year before....
...Chinese lines’ move to the Red Sea comes after most big container shipping lines — including China’s Cosco, operator of the industry’s fourth-biggest fleet — abandoned the southern Red Sea because of the...
...The line had been one of the few big international container lines still sailing through the area....
...Hapag-Lloyd, Germany’s biggest container line, said on Friday it was not looking at the possibility of using military escorts to return to the Red Sea route....
...According to figures from Clarksons, a shipping services company, container ship arrivals in recent days at the mouth of the Red Sea are 90 per cent down on levels in early December last year....
...In January, it sent home workers after Houthi missile attacks on ships in the Red Sea caused containers to be rerouted, leading to parts shortages. Additional reporting by Guy Chazan...
...Container ships have been diverted round the Cape of Good Hope, at extra cost and journey times, but there hasn’t been a big reduction in overall freight volumes....
...ABF said it was also not expecting significant disruption as a result of Houthi attacks in the Red Sea, having rerouted its container ships around Africa....
...Tesla recently had to suspend production for about two weeks because the disruption to container traffic caused by Houthi missile attacks on shipping in the Red Sea deprived it of crucial parts....
...It is much easier to complain about Beijing than address the time-sucking qualities and pernicious influence of all the big social media apps....
...even if trouble in the Red Sea persists....
...of a big correction”....
...All it needs, she explains, is an onion, finely sliced, a carton of yoghurt (how big a carton?)...
...The company also reported free cash flow of negative $2.5bn in the period, largely due to a big jump in “AI infrastructure capex” to $1bn....
...Today’s newsletter asks how worried should we be about the Red Sea in particular and geopolitics in general....
...Port congestion: Mediterranean container ports are nearing full capacity, operators have warned, as they deal with overflowing storage yards following Houthi attacks on ships in the Red Sea. 4....
...Container shipping lines started diverting around the Cape of Good Hope in November when Houthi rebels first began attacking ships on their way to and from the Suez Canal....
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