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...The head of family-owned CMA CGM, the world’s third-biggest container shipping group, Saadé was little known outside the industry until the pandemic brought billions in windfall profits and he started following...
...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...
...Nuctech was created in the late 1990s as a spin-off from China’s elite Tsinghua University to manufacture large security scanners for shipping containers and railway cars, as well as luggage scanners and...
...However, most container ships are avoiding the route as well as the Suez Canal because of attacks by the Houthis....
...Today in notable charts: That’s London consultancy Drewry’s index tracking the cost of container shipping worldwide....
...He said the impact on the Lloyd’s market would be manageable, given that its share of the potential losses was well spread across insurers....
...Lex noted it “should gain a following in the equity cash market as well”. Its anniversary offers an opportunity for amusement at past understatements....
...Well, we don’t have peace on Earth, not in our part anyway,” Netanyahu said, adding: “We shall win this war and secure our common values.”...
...AP Møller-Maersk, which operates the world’s second-largest container shipping fleet, became the latest to reroute its vessels around Africa via the Cape of Good Hope because of the “highly escalated security...
...shipping and build a media business....
...Fears of a prolonged disruption have pushed container shipping costs to the highest level outside the coronavirus pandemic....
...Its net cash position has halved since the end of 2022 but is still almost $7bn, Shipping knows the story of boom and bust all too well....
...as well as half of their emissions on shipments between an EU port and a non-EU port....
...As well as attacking shipping, the rebels have fired missiles and drones at Israel....
...The container shipping industry is running at low capacity, with many ships due to be launched in the next couple of years, meaning it can absorb the cost of longer journeys around the southern cape of Africa...
...More than half of the container shipping by volume scheduled to link Asia and North America was set to cross either the Panama or Suez canals during the third quarter of this year, according to trade analysis...
...Figures from Container Trades Statistics, analysed by Xeneta, show the number of 20ft containers shipped from China to Mexico hit 881,000 in the first three quarters of 2023, the most recent period for which...
...“The threat period for shipping is expected to last for several days,” Intertanko said.While the majority of container ships have avoided the Red Sea area in recent weeks, the drop-off in oil tanker sailings...
...These are always well-intentioned words of caution....
...Freight rates have already started falling back from their recent spikes, which peaked well short of the levels they reached during the Covid pandemic....
...Environmentalists have criticised the lack of strong enforcement measures against vessels that report the lowest grades against the new system, as well as potential loopholes in how its ratings are calculated...
...In the latest attack, on Monday, the Houthis fired two missiles at the MSC Sky II, a container ship operated by Geneva-based Mediterranean Shipping Company, the world’s biggest container shipping line....
...US President Joe Biden’s administration has been hesitant to respond aggressively to the attacks, which have halted most container shipping in the Red Sea....
...Indeed, as it happens the attacks have come at a time when the global shipping industry, and indeed the world economy, is reasonably well placed to cope....
...on container carriers....
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