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Tag: Red Sea

Red Sea Crisis: Xeneta forecasts freight rates to rise further in February

Early indications suggest ocean freight shipping rates are set to increase further in early February amid the ongoing Red Sea crisis, according to data...

Red Sea Crisis marks second largest capacity drop after Ever Given grounding

Sea-Intelligence reports that the Red Sea crisis has been going on for a month now, and the current service networks are clearly in flux,...

FMC announces hearing on Red Sea shipping developments

The Federal Maritime Commission (FMC), responsible for regulating the US international ocean transportation system, will hold an informal public hearing on 7 February to...

Drop in Suez Canal revenues could affect Egyptian economy

Chairman and managing director of the Suez Canal Authority (SCA), Admiral Osama Mounier Mohamed Rabie said that dollar revenues from the canal are down...

Red Sea crisis changes container shipping situation from glut to tightness

The closure of the Suez route has changed the fundamental outlook for container shipping in 2024, with a potential capacity crunch in Asia looming in...

Shippers are counting the cost of war

Verifiable costs for transiting the African Cape rather than the Suez Canal are around US$1,000 per box according to Xeneta chief analyst Peter Sand,...

India explores measures to mitigate Red Sea crisis impact on export trade

Ιndian government and shipping industry stakeholders have realised the urgency to deal with growing trade challenges from the Red Sea shipping crisis, as market...

Red Sea-Suez crisis quadruples Asia-Europe & Med rates

About 90% of all the containerized fleet that would have ideally taken the Suez Canal have now re-routed via the Cape of Good Hope....

Russia-bound ships immune from Houthi attacks

Ships involved in the niche Far East-Russia trade appear to be unperturbed by Houthi attacks, as the vessels have enjoyed uneventful transits through the...

India-US shippers hit by three rounds of hefty rate hikes in January

Indian shippers are getting flooded with general rate increase (GRI) and peak season surcharge (PSS) notices as container lines attempt to maximise pricing out...
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Port of Long Beach appoints new managing director of engineering services

The Port of Long Beach has appointed Suzanne Plezia, P.E., as its new Managing Director of Engineering Services, succeeding Sean Gamette, P.E., who announced...

DP World and J.P. Morgan launch partnership

DP World Trade Finance has joined forces with J.P. Morgan to enhance access to working capital across emerging markets, addressing the persistent global trade...

Red Sea shipping traffic rebounds as Houthis limit targets

Red Sea maritime traffic has increased by 60% to approximately 36–37 vessels per day since August 2024, as Reuters reported. However, it still falls short...

CMA CGM applies new surcharge from Far East to West Africa

French ocean carrier CMA CGM has announced a peak season surcharge (PSS) for shipments from Northeast Asia, Southeast Asia, China and Hong Kong &...
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