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

Freightos

Marine Attacks in the Red Sea Shipping Lane In mid-November 2023, Houthis in Yemen threatened to attack Israel affiliated vessels sailing in the Red Sea as a show of support for Hamas during the Israel – Hamas war. OOCL is the only carrier to announce they will suspend service to and from Israel in response.

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. The cost for a 40-foot container journeying from North Asia to Europe has surged over 600% , reaching $6,000 since the outbreak of the Israel-Hamas war in October.

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Ikea warns of product delays after Red Sea attacks

Operations and Supply Chain Management

Houthi militants in Yemen have stepped up attacks on vessels since the start of the Israel-Hamas war in October. The attacks have led the US to launch an international naval operation to protect ships in the Red Sea route, and countries including the UK, Canada, France, Bahrain, Norway and Spain have joined.

Yemen 52
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FedEx Announces New March 2022 International Shipping Surcharges

Intelligent Audit

Effective March 7, excluding origin payers in France, Hungary, Russia, Portugal, Israel (which will take effect on March 21), the following surcharges apply to outbound parcel services: Parcel exports from Europe to Canada and the U.S. EUR to 0.60 EUR per pound or 1.30 EUR per kilogram. Europe Outbound International Shipping Surcharges.

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White paper: Are the weakest link in your supply chain?

Supply Chain Movement

Heard Island and Mcdonald Islands. Holy See (Vatican City State). Iran, Islamic Republic of. Isle of Man. Kazakhstan. Korea, Democratic People's Republic of. Korea, Republic of. Kyrgyzstan. Lao People's Democratic Republic. Mozambique. Netherlands. Netherlands Antilles. New Caledonia. New Zealand. Norfolk Island. Northern Mariana Islands.

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White paper: What if you are the weakest link in your supply chain?

Supply Chain Movement

Heard Island and Mcdonald Islands. Holy See (Vatican City State). Iran, Islamic Republic of. Isle of Man. Kazakhstan. Korea, Democratic People's Republic of. Korea, Republic of. Kyrgyzstan. Lao People's Democratic Republic. Mozambique. Netherlands. Netherlands Antilles. New Caledonia. New Zealand. Norfolk Island. Northern Mariana Islands.

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Most desirable logistics location of Europe in 2018

Supply Chain Movement

Heard Island and Mcdonald Islands. Holy See (Vatican City State). Iran, Islamic Republic of. Isle of Man. Kazakhstan. Korea, Democratic People's Republic of. Korea, Republic of. Kyrgyzstan. Lao People's Democratic Republic. Mozambique. Netherlands. Netherlands Antilles. New Caledonia. New Zealand. Norfolk Island. Northern Mariana Islands.