Stock price information reflected on a window at the Euronext NV stock exchange in Paris, France, on Monday, March 13, 2023. Nathan Laine | Bloomberg | Getty Images European markets were lower Tuesday, as positive momentum over the past few days falters. The pan-European Stoxx 600 was down 0.8% by 10:40 a.m. London time, with all … Read more
Baltimore City Fire Boat 2 floats past the Dali container vessel after it struck the Francis Scott Key Bridge that collapsed into the Patapsco River in Baltimore, Maryland, U.S., on Tuesday, March 26, 2024. Bloomberg | Bloomberg | Getty Images The collapse of a major Baltimore bridge and its knock-on effects could result in the … Read more
The Key Bridge was hit by a ship and collapsed on March 26, 2024. The Washington Post | The Washington Post | Getty Images Six construction workers were presumed dead on Wednesday after a massive cargo ship struck the Francis Scott Key Bridge in Baltimore, causing it to partially collapse into the Patapsco River. The … Read more
Giant gantry cranes and off loading freighter in Haifa container port, Israel. Ucg | Universal Images Group | Getty Images LONDON — Shares of Danish shipping giant Maersk slumped more than 14% in early trade Thursday after it flagged “high uncertainty” in its 2024 earnings outlook amid Red Sea disruptions and an oversupply of shipping … Read more
The Maersk Sentosa container ship sails southbound to exit the Suez Canal in Suez, Egypt, on Thursday, Dec. 21, 2023. Stringer | Bloomberg | Getty Images Danish shipping giant Maersk said Friday it would extend its diversion of vessels from the Red Sea for the “foreseeable future” due to safety concerns amid a spate of … Read more
Shipping giant Maersk on Wednesday notched a second consecutive session of strong gains as investors assessed a ratings upgrade and its decision to prolong a halt on Red Sea travel due to safety concerns. The Danish firm topped Europe’s Stoxx 600 gainers, with its Copenhagen-listed shares provisionally closing up 5.1% following Tuesday’s 6.4% rise. Shares … 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
Oil major BP has joined a growing list of firms pausing shipping through the Suez Canal following a series of attacks on vessels by Houthi militants from Yemen, as the U.S. pledged an international effort to combat the situation. “In light of the deteriorating security situation for shipping in the Red Sea, bp has decided to temporarily pause … Read more
