Shipping giant Maersk says Red Sea vessel diversions could extend into second half of 2024
On January 5, Maersk announced that it was suspending voyages through the Red Sea and Gulf of Aden for the “foreseeable future” after the attack on the Maersk Hangzhou. After attacks on two U.S.-flagged Maersk vessels on January 24, the Maersk Detroit and Maersk Chesapeake, Maersk Line, Limited — a U.S. subsidiary of Maersk, which operates U.S.-flagged vessels independently — announced it would no longer traverse the Red Sea.
Panama and Suez Canal double crisis threatens global supply chains
Persisting Suez Canal and Panama Canal-related supply chain delays and increased rates may see shippers and forwarders opting for air cargo. Shipping operations are currently being compromised by the need to avoid the Suez Canal due to the risk of attacks in the Red Sea, and restrictions on the Panama Canal following drought.
World’s two most important shipping canals now facing serious delays
The world’s two largest shipping canals are facing delays and problems, threatening to snarl commodities shipping and push prices higher. Ships crossing through the Panama Canal have faced delays this year because of drought that has sent the canal’s water levels to record lows.
More ships to avoid Red Sea as attacks disrupt world trade
Germany’s Hapag-Lloyd and Hong Kong’s OOCL said on Thursday they would avoid the Red Sea, the latest shipping companies to do so after attacks by Yemen’s Houthi group on vessels disrupted global trade, prompting the establishment of a naval task force.
New research shows glass bottles considered much more sustainable than bag-in-box
by The Drinks Business At a press conference earlier this month on Wine/Vinexpo Paris, which takes place from 14-16 February next year in the French capital, Wine Intelligence CEO Lulie Halstead revealed a series of key trends taking shape in the drinks industry. Among these were a set of developments in the
Surging shipping costs will drive up prices for some consumer products by 10%, new UN report finds
by CNBC BEIJING — The global surge in container shipping rates could send consumer prices 1.5% higher over the next year, according to a report from the United Nations Conference on Trade and Development (UNCTAD). The rate for a single shipping container has skyrocketed over the last 18 months as the