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...When Houthi rebels started attacking ships in the Red Sea last year, the company stuck with the route longer than competitors because its vessels were escorted by the French navy....
...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...
...The re-routings have forced shipping lines to devise new arrangements for goods going between Asia and ports in Italy, Greece and Turkey....
...But the disruption has been something of a gift to shipping lines. Danish containerline Maersk joined other groups and confirmed this week that transits along the route would pause....
...This has meant shipping lines have had to add port calls in some areas to drop off and pick up containers going to and from areas that are no longer on their direct route....
...That seems to be the strategy adopted by big container shipping companies....
...That is also boosting share prices for shipping lines. Maersk and Germany’s Hapag-Lloyd are up about 20 per cent over the same period....
...Shipping analysts at Sea Intelligence said that shipping line customers were “caught between a rock and a hard place” by the operators’ decisions to increase vessel speeds....
...Dominguez also expressed admiration for how the shipping industry had coped with the security crisis around the Red Sea. “Shipping continues to be resilient,” he said....
...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....
...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 shipping lines are struggling to cope with congested ports and shortages of ships as the crisis in the Red Sea drags into a third month, one of the sector’s most senior executives has warned....
...Disruption in the Red Sea because of attacks by Houthi rebels in Yemen has led most container lines to send their vessels around the bottom of South Africa rather than through the Suez Canal, pushing freight...
...Enrico Vergani Partner and Lead on Shipping, Transport & Logistics, BonelliErede (lawyers) London EC4, UK...
...Simon Heaney, senior manager in container research at London-based Drewry Shipping Consultants, said alliances were vital for shipping lines and their customers....
...The company’s backers include the bulk shipping arm of Japan’s Mitsui OSK Lines, one of the world’s biggest operators of ships for carrying commodities such as coal and iron ore....
...Oil prices jumped on Tuesday on mounting concerns over Houthi rebel attacks on commercial vessels in the Red Sea, one of the world’s most important trade corridors....
...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 US and 11 other countries condemned attacks by Houthi rebels on commercial shipping in the Red Sea and warned the militant group of potentially severe consequences if their attacks continued....
...Attacks on shipping in the Red Sea threaten to create a ‘‘chaotic” period for Europe’s manufacturers and retailers as supply chains are disrupted, logistics experts have warned....
...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 US has said Iran has been “deeply involved” in planning Houthi attacks on commercial vessels transiting the Red Sea and warned Tehran of a possible response amid the increased threat to shipping through...
...Most of the world’s biggest container lines have now suspended traffic through the Red Sea, unwilling to transit via the canal that links Asia to Europe and through which about 30 per cent of the world’s...
...Shipping lines have increasingly been deserting Red Sea and Suez Canal routes since late November....
...Logistics companies have looked anew at routes through Russia following the decision of most large container shipping lines to divert Asia to Europe sailings that would normally go through the Suez Canal...
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