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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....
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...Vincent Clerc, chief executive of Denmark’s AP Møller-Maersk, said there was no sign of tensions easing after attacks by Houthi rebels in Yemen caused container shipping companies to divert their vessels...
...Container-shipping costs from Shanghai to New York or Los Angeles are up closer to 30 per cent. It could be worse....
...The research, by the London-based shipping services company Clarksons, also showed that the number of container ships diverting from the Red Sea to travel round the Cape of Good Hope on January 9 was more...
...The re-routings have forced shipping lines to devise new arrangements for goods going between Asia and ports in Italy, Greece and Turkey....
...The US company told the Financial Times there had been “no attack on or fire at the factory”, which is situated in the Brandenburg region south-east of Berlin and produces 6,000 cars a week....
...Shipping companies are widely seen as beneficiaries from the Red Sea problems as freight rates increase and investors bet that what is bad news for the global economy and retailers could bring better profits...
...French container shipping group CMA CGM abandoned its pursuit of UK logistics company Wincanton on Tuesday, making it almost certain that a rival bid by GXO would succeed....
...Even City folk who have spent years warning that London was losing its competitive edge as a global hub for companies wanting to raise equity were taken aback by the overwhelmingly negative news flow last...
...Car-carrier companies operate a total of 776 ships for cars, trucks and other roll-on, roll-off cargo such as agricultural machinery....
...This has been your daily FT News Briefing. Make sure you check back tomorrow for the latest business news. [MUSIC PLAYING]...
...Simon Heaney, senior manager in container research at London-based Drewry Shipping Consultants, said there was “definitely pain” for shipping companies’ customers as a result....
...The Bank of England signalled it would cut rates this summer if inflation stays low, even as it kept borrowing costs at a 16-year high of 5.25 per cent....
...The latest Houthi assaults raise the prospect that dry bulk shipowners will divert en masse away from the Red Sea route, as companies operating container ships have already done....
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...The waterway accounts for 30 per cent of all container ship traffic and is a vital conduit for crude oil shipments....
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