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Freight Market Snapshot: Houthi Attacks in Red Sea and Suez Canal News Updates

Freightos

But with alternative routes and plenty of excess capacity available, operations should continue reasonably well, and freight rates are unlikely to spike to extreme highs. Together with ZIM, these carriers represent five of the top ten largest carriers and 56% of global capacity. Oil tankers have also begun avoiding the Red Sea.

Freight 247
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Top 8 Industries Affected by The Red Sea Crisis in January 2024

Resilinc

An escalation in conflicts, such as the Israel-Hamas conflict or a shift in Houthi targets to oil tankers and bulk carriers, could have severe implications for the global economy. If the attacks continue, this crisis could trigger inflation due to higher global freight and insurance rates, along with supply chain disruptions. #5