A cargo ship crosses the Suez Canal, one of the most critical human-made waterways, in Ismailia, Egypt on December 29, 2023. (Photo by Fareed Kotb/Anadolu via Getty Images) Anadolu | Getty Images The threat to global trade in the Red Sea remains high, even with efforts to protect commercial vessels from attacks by Iranian-backed Houthi … Read more
A TV presenter gets ready for the daily reporting from the floor of the German share price index DAX at the stock exchange in Frankfurt, Germany, November 15, 2023. Staff | Reuters LONDON — European markets were higher on Wednesday to kick off the final trading week of 2023, as major indexes around the world … Read more
The Ebba Maersk container ship, operated by A.P. Moeller-Maersk A/S, leaves Suez port and heads towards the Red Sea after passing through the Suez Canal in Suez, Egypt on Saturday, April 6, 2013. Kristian Helgesen | Bloomberg | Getty Images Maersk and CMA CGM, two of the world’s largest shipping firms, will impose extra charges … Read more
With the Red Sea diversions by shipping companies including Maersk continuing amid the risk of attacks by the Houthis, global logistics managers are faced with a two-front storm of rising ocean and air freight prices and stranded cargo. Both are threats to the global supply chain after three tumultuous years of inflationary pressures and delays … Read more
Ikea warned of delays on some products due to the mass diversion of shipping containers from the Red Sea over safety concerns. “The situation in the Suez Canal will result in delays and may cause availability constraints for certain IKEA products,” a spokesperson said by email Thursday. They added that the safety of staff working … Read more
Danish shipping giant Maersk confirmed on Tuesday that its vessels due to transit the Red Sea and Gulf of Aden would take the Cape of Good Hope route around the south of Africa after a spate of attacks by Houthi militants from Yemen. Along with a host of other firms, the company had previously announced … Read more
An oil tanker anchored in the Red Sea off the coast of Yemen’s contested western province of Hodeida on July 15, 2023. Mohammed Huwais | Afp | Getty Images Oil prices traded mixed Tuesday as tankers shun the Red Sea on the back of heightened attacks by Iran-backed Houthi militants which have disrupted international shipping … Read more
Traders react after the closing bell on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 13, 2023. Brendan Mcdermid | Reuters This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, … Read more
A container ship sails through the new section of the Suez Canal in the Egyptian port city of Ismailia, 135 kms northeast of the capital Cairo on October 10, 2019. Khaled Desouki | AFP | Getty Images Attacks by Iran-backed Houthi militants on ships in the Red Sea have already rocked global trade. And there … Read more
Tihama, a Maltese Flag container ship of shipping line Hapag-Lloyd, at a European dock on August 13, 2022. Thierry Monasse | Getty Images News | Getty Images BP has become the latest firm to pause travel through the Suez Canal following a series of attacks on vessels by Houthi militants from Yemen. In a statement Monday, BP said … Read more
