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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.
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.
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.
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.
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.
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.
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.
More Resources Home Red Sea and Suez Canal Shipping Crisis Update Judah Levine Optimize your logistics tendering, vendor selection, negotiations, and procurement with Freightos Data Book a Demo Even with an international naval force in place, Houthi attacks on commercial vessels in the Red Sea continue.
Several firms have paused shipments through the route after vessels were attacked by Houthi rebels in Yemen. But one major shipping firm claimed the disruption will not lead to empty shelves in shops. Several firms have paused shipments through the route after vessels were attacked by Houthi rebels in Yemen.
Ship Smarter: How to Avoid Bottlenecks in Your Global Operations. You can’t just turn around a giant cargo ship. And when shipping to volatile countries, it becomes even harder. And when shipping to volatile countries, it becomes even harder. Once cargo has shipped, there are no “backsies.” By Ali Hasan Raza.
The incident is the latest in a string of attacks since Iranian-backed Houthi rebels in Yemen issued a threat to target ships until Israel’s military operation against Hamas ends.
The shipping environment is prone to disruptions. The shipping environment is prone to disruptions, ranging from political conflicts to economic fluctuations and logistical challenges. Political instability and conflicts, exemplified by the ongoing Houthi attacks in Yemen, pose significant risks to supply chains.
Crews began the on-water removal of containers from the still-stuck Dali , as one necessary step in clearing the ship from the collision site. As a military solution to the attacks has proved elusive, the US envoy to Yemen is also exploring diplomatic incentives to bring the disruption to an end. Ocean rates from Asia to N.
The Suez is facing a different set of challenges though, as Houthis in Yemen attacked three more vessels – two bulk carriers, and an OOCL container vessel they determined to have links to Israeli-ownership – and a US Navy ship on Sunday.
Eyefortransport is currently seeing major consolidation occurring in the shipping industry and expects to see further moves as logistics providers look to take advantage of e-commerce, cross-border trade and shifting global demand. United States. United States Minor Outlying Islands. Uzbekistan. Virgin Islands, British. Virgin Islands, U.S.
Eyefortransport is currently seeing major consolidation occurring in the shipping industry and expects to see further moves as logistics providers look to take advantage of e-commerce, cross-border trade and shifting global demand. United States. United States Minor Outlying Islands. Uzbekistan. Virgin Islands, British. Virgin Islands, U.S.
The diversions are leading to higher costs for carriers using more fuel and more ships for the longer journeys around the south of Africa, and higher container rates for shippers. This statement was followed by a China representative to the UN also calling for the attacks to end.
Storage and shipping costs can quickly cut into profit margins. This results in less machine runtime, fewer emissions, and less waste. Standardize output with smart contracts. Some of the biggest supply chain bottlenecks occur as goods are heading out the door. According to research from the U.N. Ali Hasan R.
Storage and shipping costs can quickly cut into profit margins. This results in less machine runtime, fewer emissions, and less waste. Standardize output with smart contracts. Some of the biggest supply chain bottlenecks occur as goods are heading out the door. According to research from the U.N. Ali Hasan R.
US and UK strikes on Houthi positions continued last week as well, and the US Federal Maritime Commission is considering implementing maritime sanctions on Yemen as an additional measure. For vessels still transiting the Red Sea, insurance premiums continue to rise.
Dive deeper into freight data that matters Stay in the know in the now with instant freight data reporting Sign up for Free Analysis Even with the US-led international naval task force in place, Houthi attacks on commercial vessels continued last week including a missile attack and attempted hijacking of a Maersk container ship on Saturday.
The intricate networks of shipping routes, ports, and inland terminals have strengthened the interconnectedness of the world economy, and maritime shipping is the critical mode of global transport. While the drought in Panama has ended and shipping is rebounding, the Suez Canal, where traffic has been cut in half, remains an issue.
Sitting with Board Members and Investors in New York City, I had just seen the first news about the Yokohama ship. During the meeting, my attention was on the cruise ship not too far from me in the bay, and how the infected were being treated there.
Bombing of Yemen, Red Sea Crisis, and Strait of Hormuz Client Alert On Oct. B-2 Stealth Bombers struck underground weapons storage facilities in Yemen controlled by Houthi rebels. The Strait of Hormuz, for its part, is one of the top strategic shipping straits in the world. Possible Impacts from U.S. 16, 2024, U.S.
The tolls that ships pay are now around eight times more expensive than normal. Ship operators fear that their crews could be imperiled on the journeys through the Red Sea by missile or drone attacks from a Yemen-based rebel group. One source said that the strategy could be announced Tuesday. tons of fuel each day.
The pause in the tariff fight that amounted to a trade embargo between China and the United States has seen a marked increase in container shipping rates, particularly on trans-Pacific routes. Missile attacks on Israel by Houthi rebels in Yemen continue to make the Suez Canal route too unstable for most major container carriers.
Since mid-November, Houthi rebels in Yemen have intensified their assaults on commercial shipping vessels navigating through the lower Red Sea, in response to situation in Gaza. Currently, the average delay for shipping vessels around the Cape of Good Hope is 9–12 days versus the direct route.
Persistent Red Sea Risks Continue to Disrupt Critical Trade Route The ongoing conflict in Yemen has created several shipping risks in the Red Sea. In particular, there is a risk of Houthi rebels laying mines in the shipping lanes. That's a hard-to-prevent risk that could damage or sink ships.
For example, when the conflict started to move outside of Gaza and into the Middle East, Yemen attacked ships in the Red Sea. This is now impacting the Suez Canal and causing ships to reroute. These types of conflicts immediately affect the supply chain.
Since mid-November, Houthi rebels in Yemen have intensified their assaults on commercial shipping vessels navigating through the lower Red Sea, in response to the situation in Gaza. Currently, the average delay for shipping vessels around the Cape of Good Hope is 9–12 days versus the direct route.
Yemen-based Houthi militants have been attacking high-value cargo vessels in the Red Sea since November in a show of support for Palestinian Islamist group Hamas fighting Israel in Gaza. And now on to this week’s logistics news.
That means maritime shipping lies at the very heart of the global logistical system. At the time, Ron Widdows , former chairman of the World Shipping Council, reported that piracy was costing “the global shipping industry anywhere from $3.5 Nearly 90 per cent of global trade is carried by sea-going vessels.
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