article thumbnail

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

Freightos

Suez Canal News Update The Suez Canal is a crucial lane for global shipping, with 50-60 vessels of all types transiting each day for about 19,000 per year, including about 30% of global container traffic and more than a million barrels of crude oil per day. Live map of Suez Canal and Red Sea, Dec. Live map of Suez Canal and Red Sea, Dec.

Freight 327
article thumbnail

November 21, 2023 Update

Freightos

Though Israel’s war with Hamas has so far not had much impact on ocean logistics , Houthis from Yemen, after threatening to target Israeli ships, hijacked a car carrier vessel in the Red Sea with ties to Israeli owners this week, raising concerns of broader supply chain impacts from the war.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

This Week in Logistics News (May 4 – May 10)

Logistics Viewpoints

Global shipping lines have become increasingly strained as the Houthi militia in Yemen broadens its attacks on cargo vessels, one of the largest companies in the industry warned on Monday. But in recent weeks, the Houthis have been trying to strike ships making that longer journey in the Indian Ocean. 1 in trade with the U.S.

article thumbnail

This Week in Logistics News (January 20 – 26)

Logistics Viewpoints

Global shipping prices are continuing to rise as Houthi rebels keep up attacks on cargo vessels in and around the Red Sea. The disruptions are at a key point for ships passing through the Suez Canal and are creating ripples across supply chains in Europe and the U.S., And now on to this week’s logistics news. East Coast. 18 to $3,860.

article thumbnail

Exiger’s Technology Forecasts Merchandise, Textiles and Luxury Goods Most Vulnerable to Potential Strait of Hormuz Blockade

Exiger Perspectives

strike on weapons storage facilities in Yemen , there is increasing concern about how a disruption to this trade route could impact the global economy. the transfer of goods between ships). .- Bound Shipments, Global Transshipping and Persian Gulf Oil WASHINGTON , Oct.

article thumbnail

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

Resilinc

The latest updates on shipping delays in the Red Sea in January 2024, including which businesses and industries have been impacted. This response is driven by ongoing threats to crew and cargo safety, necessitating the rerouting of ships around the Cape of Good Hope, resulting in substantial delays and escalated shipping costs.

article thumbnail

Israel attacks on Iran inflame Mideast shipping tensions

Freight Waves

There were no immediate reports of attacks on commercial shipping by Iran after Israel attacked nuclear targets there Thursday. But shipping analysts warned that could change amid rising tensions in the region. GPS data showed container ships from Taiwan’s Wan Hai and CMA CGM of France in the area.

Israel 112