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...The boss of shipping giant AP Møller-Maersk has warned it could take months to reopen the crucial Red Sea trading route, risking an economic and inflationary hit to the global economy, companies and consumers...
...Telecom and tech groups are being forced to reroute internet traffic after attacks in the Red Sea have made the area increasingly unstable, with damage to undersea cables putting connectivity and services...
...Port executives said they were dealing with overflowing storage yards and waits for vessels to berth following Houthi attacks on ships in the Red Sea, which has led to a surge in traffic at Algeciras and...
...Denmark’s defence forces in March said the Iver Huitfeldt had successfully shot down drones flown by Houthi rebels over the Red Sea....
...The Red Sea crisis has caused a surge in costs for container shipping companies, France’s CMA CGM has warned, as it flagged a volatile and unpredictable year ahead after sliding into a fourth-quarter loss...
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...Demand to move goods from Asia to Europe by rail via Russia has soared since the start of the Red Sea crisis, according to logistics companies and rail operators, boosting the finances of the country’s state-owned...
...The diversion of container vessels away from the risk of attacks in the Red Sea is pushing up air freight costs as shippers try to keep Asian-produced goods on shelves despite delays to sea traffic....
...There has predictably been increased demand for air freight as a result of the Red Sea attacks, particularly from companies with high-value time-contingent goods....
...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....
...Sea stand-off (The Intercept) — America’s Housing Rebound (Matt Klein $) — Brains are not required (Scientific American) — Celsius Networks has filed UK accounts for 2020 and 2021 lol — Why is music...
...The action was ordered by US President Joe Biden after “unprecedented” attacks by the Yemen-based militants on commercial ships in the Red Sea....
...Figures from Clarksons, the shipping services company, show that arrivals of container ships in mid-January near the mouth of the Red Sea were 90 per cent down on the average for the first half of December...
...In their words: Darker reds depict countries with stronger monetary policy transmission based on the cross-country distribution for each variable, whereas lighter reds indicate the opposite....
...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....
...Both companies last week paused transits through the Red Sea because of the threat of attacks....
...“In light of the deteriorating security situation for shipping in the Red Sea, BP has decided to temporarily pause all transits through the Red Sea,” the British energy company said in a statement on Monday...
...Yemeni rebels are the latest ill wind to hit, causing disruption in the Red Sea with attacks on ships....
...The increased emissions are a result of vessels being rerouted because of the attacks by Yemen’s Houthis on commercial ships in the Red Sea and Gulf of Aden....
...The boss of shipping giant AP Møller-Maersk warned that it could take months to reopen the crucial Red Sea route to trade, risking an economic and inflationary hit to the global economy, companies, and consumers...
...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...
...US and UK air strikes have reduced the risk to vessels from attacks by Yemen’s Houthis in the Red Sea but there is little prospect of many shipping companies making a swift return to the Suez Canal, security...
...Read more on the Red Sea here...
...Today’s newsletter asks how worried should we be about the Red Sea in particular and geopolitics in general....
...Figures from Clarksons, the London-based shipping services company, show that in the week to January 28 average daily arrivals of dry bulk vessels around the mouth of the Red Sea were down by 45 per cent...
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