Suez canal
Suez Canal revenue drops as some shippers shun Red Sea
THE Suez Canal’s annual revenue dropped by almost a quarter in its latest financial year as some shippers switched to alternative routes to avoid attacks by Iran-aligned Houthis in the Red Sea.
Global shipping prices stabilising in wake of Suez disruption, but at higher level
GLOBAL shipping prices are starting to stabilise, after rising for several months due to Red Sea tensions – but they may settle at a higher level than before, said industry observers.
Egypt grapples with impact of Red Sea hits on Suez Canal revenue
EGYPT pushed ahead with an increase in transit fees through the Suez Canal this week, as a need for foreign currency trumped a fall in maritime traffic due to Houthi attacks on shipping in the Red Sea...
Global supply chain disrupted; ships taking the long way round
THE attacks on merchant ships in the Bab-el-Mandeb strait and the resulting effective near-closure of the Suez Canal have grabbed the headlines in the past few days.
Maersk to avoid Red Sea for foreseeable future
Shipping giant Maersk said on Friday (Jan 5) that it would divert all vessels around Africa instead of using the Red Sea and Suez Canal for the “foreseeable future” after Yemeni rebels attacked its me...
US tries to persuade shippers to sail through Red Sea despite Houthi attacks
THE United States military is trying to reassure shipping companies that a multinational force is making it safe to sail through the Red Sea and Suez Canal even though attacks from Yemen-based Houthi ...
Maersk schedules dozens of vessels to travel via Suez Canal
Denmark’s Maersk said on Wednesday (Dec 27) it has scheduled several dozen container vessels to travel via the Suez Canal and the Red Sea in the next several weeks, in a further sign that global shipp...
