To avoid the Red Sea, the supertanker Grand Bonanza set out early in January on a roughly 40-day journey carrying 1.8 million barrels of Abu Dhabi crude for TotalEnergies from the United Arab Emirates all the way around Africa to France. The trip will take at least two weeks longer than the normal route via … Read more
The UN is concerned that several geopolitical factors could disrupt international trade. File | Photo Credit: Reuters The U.N. trade body sounded an alarm on January 25 that global trade is being disrupted by attacks in the Red Sea, the war in Ukraine, and low water levels in the Panama Canal. Jan Hoffmann, a trade … Read more
India is holding diplomatic talks with Iran and taking other measures to help shield its exporters from the impact of attacks on ships in the Red Sea by the Iran-aligned Houthi group in Yemen, a government source said on Wednesday. The attacks have slowed trade between Asia and Europe, disrupting supply chains. The Houthis … Read more
Dollar revenues from Egypt’s Suez Canal are down 40% from the beginning of the year compared to 2023, canal authority head Osama Rabie said on Thursday, after attacks on ships by Yemen’s Houthis caused major shippers to divert away from the route. Ship traffic was down 30% in the period between January 1 and … Read more
The global supply chain is feeling the fallout from Iran-backed Houthi rebels attacking vessels in the Red Sea. Freight prices are set to jump Monday, while longer transit times around Africa are disrupting and delaying deliveries of products. Vessels aren’t able to come back to Asia in time, and ocean carriers are canceling sailings on … Read more
Oil and fuel tanker traffic in the Red Sea was stable in December, even though many container ships have rerouted due to attacks by Iran-aligned Houthi militants, a Reuters analysis of vessel tracking data showed. The attacks have driven up shipping costs sharply along with insurance premiums, but have had less impact than feared … Read more
Al-Aqsa Flood and the Israeli Right’s future Al Rai, Kuwait, December 27 For more stories from The Media Line go to themedialine.org In the aftermath of Israel’s crushing defeat on October 7, a severe dilemma now confronts Benjamin Netanyahu’s government. This defeat has not only put an end to Israel’s longest-reigning leader and prominent … Read more
The crude oil tanker RN Polaris and a bulk carrier sail in Nakhodka Bay near the port city of Nakhodka, Russia, | Photo Credit: Reuters Yemen’s Iran-backed Houthis have been targeting vessels in the Red Sea since November to show their support for the Palestinian Islamist group Hamas in its war against Israel. This has … Read more
