Red Sea crisis bites deep for Egypt as Suez Canal fees plummet
CAIRO : Suez Canal toll fees have taken a dive as ships redirect around the Cape of Good Hope, but the diversions have had a mixed impact on
UNCTAD : Red Sea conflict adds insult to global trade’s injuries
LONDON : UNCTAD has raised profound concerns over escalating disruptions to global trade. The Intergovernmental Body noted that recent attacks on ships in the Red Sea, combined with
FIATA calls for global monitoring and coordination to facilitate maritime transport as Red Sea tensi
GENEVA : In the wake of mounting tensions in the Red Sea, FIATA has released a call to action for strengthened international dialogue and monitoring between governments and
Hapag Lloyd hikes dry cargo rates from Canada to India and Middle East
HAMBURG : Hapag Lloyd has announced a general rate increase (GRI) from Canada West Coast to Middle East and the Indian subcontinent for dry cargo transported in 20TEU
CMA CGM adjusts NEMO service due to Red Sea crisis
MARSEILLE : Due to recent attacks on commercial vessels in the Red Sea Region, CMA CGM Group is introducing precautionary measures for the safety of its vessels and
Egypt’s Suez Canal revenues down 40% due to Houthi attacks
CAIRO : 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,
Canals aren’t the world’s biggest shipping chokepoints
CAIRO : When traffic through the Suez Canal ground to a halt in 2021, the extraordinary cost and disruptions to global commerce seemed overwhelming. But 5,000 miles from
Shippers are counting the cost of war
OSLO : Verifiable costs for transiting the African Cape rather than the Suez Canal are around US$1,000 per box according to Xeneta Chief Analyst Mr. Peter Sand, who
How Red Sea attacks put India’s trade at risk
NEW DELHI : The Gaza war has long posed the risk of escalating into a broader crisis for the Global Economy, and recent developments in the Red Sea
India mulls subsidies for exporters facing higher shipping costs
NEW DELHI : Given the recent spate of attacks on cargo ships in the Red Sea, India is mulling a variety of measures, including subsidisations for Indian exporters