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...Diverting container ships via the Cape of Good Hope adds about 13,000km in distance for an Asia-Europe round trip, and hundreds of dollars per container, Clerc said....
...The firm has about 600 partners in the US and is the largest member of Grant Thornton International, a network of accounting firms that use a common brand and co-ordinate services worldwide....
...The vessels, which are North Korean-flagged and classified as oil products tankers, all visited the same berth operated by a Russian oil company at Vostochny Port, where they appeared to load....
...Richard Neylon, a shipping lawyer at HFW, said it was sometimes “not within the shipowners’ power to open and inspect” containers. “[Shipping is essential] for international trade....
...The risks have risen as international trade in goods has increased and ships have grown larger....
...CSX, one of the biggest freight railroad companies on the east coast, said customers should expect delays due to the bridge collapse, adding that all international intermodal shipments destined for Baltimore...
...The moves come as major container shipping companies continue to avoid the Red Sea, and following explosions on Wednesday in Kerman, south Iran, which reportedly killed more than 100 people....
...One hit the container ship MSC Sky II on Monday, while the US warship USS Carney shot down another. It did not say what happened to the other two weapons....
...On Tuesday, International Paper confirmed that it had made a takeover proposal for UK group DS Smith, raising the possibility of a bidding war for the company, which has already reached a deal with Mondi...
...Brent crude oil, the international benchmark, settled at a two-week high of $79.23 per barrel on Tuesday, up 1.6 per cent on the day....
...According to the congressional letter, the company accounts for 80 per cent of cranes at US container terminals....
...An official involved in the talks said the deal would also mean the EU had met its international commitments....
...Ofcom considered that International Media Investments, a majority partner in the takeover vehicle’s owner, “may have the incentive to influence TMG in a way that could potentially act against the public...
...If found guilty, companies face fines of up to 10 per cent of global turnover....
...Within China, CIMC had a 52 per cent share in container production as of June this year, Dong Fang International Containers 11 per cent and CXIC Group Containers 7 per cent, according to Drewry....
...The Copenhagen-based company’s other vessels have been travelling via the Cape of Good Hope since December....
...The line had been one of the few big international container lines still sailing through the area....
...These smaller Chinese lines have been serving ports such as Doraleh in Djibouti, Hodeidah in Yemen and Jeddah in Saudi Arabia, all of which have faced big falls in traffic as international container shipping...
...Companies have emphasised, however, that while painful, the jump in shipping costs is nowhere near as bad as during the pandemic, when supply chain disruptions drove them as high as $20,000 per container...
...Sheikh Mansour owns Premier League football club Manchester City, while RedBird IMI last month agreed to buy a British television production company, All3Media, for more than £1.1bn....
...The announcement this year that the world’s two largest container shipping groups, Mediterranean Shipping Company and AP Møller-Maersk, had decided to end their vessel-sharing alliance had prompted speculation...
...German company Hapag-Lloyd, the world’s fifth-largest container shipping group, on Friday said it was “pausing all container ship traffic through the Red Sea” until Monday....
...repair any damage....
...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....
...Mads Drejer, chief operating officer of Denmark-based logistics company Scan Global Logistics, said his company was “increasingly seeing” higher air freight demand....
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