For the reason that starting of the 12 months the Houthi assaults within the Crimson Sea have decreased the circulation of ships via the Suez Canal by greater than 50% hurting the worldwide financial system. Her earnings Egypt from the Canal decreased by 46% with a steady downward development. Nonetheless, the port of Piraeus has … Read more
Elon Musk’s Tesla and Volvo Car, owned by Geely, have announced that they are suspending part of their production in Europe due to a shortage of parts. These are some of the first visible impacts of Houthi rebels’ attacks on shipping in the Red Sea on manufacturers, Reuters writes. Tesla will suspend most production from … Read more
In this photo released on November 20, 2023, the Galaxy Leader cargo ship is being dragged by Houthi rebels in the Red Sea. /Reuters Yonhap News The United States engaged in direct combat for the first time in the Red Sea near Israel with Yemen’s Houthi rebels, an Islamic militant group supported by Iran. Since … Read more
The Iran-allied group says the aim of the attacks is to support the Palestinians at a time when Israel is waging a war on Gaza. The process of rerouting increases the cost and time of ship trips. As a result, oil prices and war risk insurance premiums rose. What is the Suez Canal? The Suez … Read more
Container shipping has erupted in the Red Sea crisis. Yemen’s “Youth Movement” organization (Houthi, also translated as the Houthi armed forces) controls the Red Sea waterways, which has forced the world’s top five shipping giants to stop sailing in the Red Sea and detour around the Cape of Good Hope. Evergreen (2603), Yang Ming and … Read more
The head of the Suez Canal Authority, Usama Rabi, said that maritime rescue efforts continue to resolve a collision between the CHINAGAS LEGEND tanker and the Fahd tug, one of the Authority’s tugs, at km 51 in Al. The tug collided with a tanker in the waters of the Suez Canal, after which it sank. … Read more
Muhammad Al-Gali wrote Tuesday, April 11, 2023 03:24 PM President Abdel-Fattah El-Sisi met today with Dr. Mostafa Madbouly, Prime Minister, Lieutenant General Osama Rabie, Chairman of the Suez Canal Authority, Major General Amir Sayed Ahmed, Advisor to the President of the Republic for Urban Planning, and Mustafa El-Dogishy, Chairman of the Board of Directors of … Read more