Red Sea News- Shipping, Ports stocks in focus as crisis unfolds
1 year ago

Red Sea News- Shipping, Ports stocks in focus as crisis unfolds

Live Mint  

The share price of shipping companies and port operators remain in focus with rise in Houthi attacks in the Red Sea leading to disruption in the shipping route. The Share prices of Shipping Corporation of India and Great Eastern Shipping Company after correcting 1.7-5.8% on Wednesday though rebounded on Thursday, nevertheless analysts remain cautiously watchful. Our sense is that the Houthi attacks in the Red Sea is a near-term challenge and would be addressed by Western countries going forward., said Manish Chowdhury, Head of Research, StoxBox. With the Suez Canal-Red Sea route constituting about 10-12% of the global trade, some upward momentum can be seen in shipping rates as the trade would now be routed through the African route which would consume more time, said Chowdhury.

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History of this topic

Dubai-based port operator DP World’s half-year profits fall nearly 60%, in part over Red Sea attacks
4 months, 1 week ago

Dubai-based port operator DP World’s half-year profits fall nearly 60%, in part over Red Sea attacks

Associated Press  

DUBAI, United Arab Emirates — Dubai-based port operator DP World reported Thursday its half-year profits fell by nearly 60%, in part over the ongoing attacks by Yemen’s Houthi rebels over the Israel-Hamas war that have affected shipping through the Red Sea. DP World Group’s chairman and CEO, Sultan Ahmed bin Sulayem, acknowledged that the Red Sea disruptions affected the firm’s …

Dubai-based port operator DP World's half-year profits fall nearly 60%, in part over Red Sea attacks
4 months, 1 week ago

Dubai-based port operator DP World's half-year profits fall nearly 60%, in part over Red Sea attacks

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Dubai-based port operator DP World …

Red Sea crisis: The shipping industry is sounding the alarm as another vessel sinks
6 months ago

Red Sea crisis: The shipping industry is sounding the alarm as another vessel sinks

CNN  

London CNN — Leading shipping groups have urged governments “with influence” to put a stop to Houthi attacks on vessels in the Red Sea after a second freighter sank this week. Shipping costs keep rising Beyond the loss of life, the Houthi attacks have also caused severe disruption to transit through the Red Sea, which connects with the Suez Canal, …

Red sea disruptions cost exporters dear
10 months, 2 weeks ago

Red sea disruptions cost exporters dear

The Hindu  

Disruptions in the Red Sea route are pushing up logistics costs for exporters, even as several small volume cargo are diverted from sea route to air, which is leading to space constraints and higher air freight charges. According to the President of the Coimbatore Custom House and Steamer Agents Association R. Rajeshkumar, there is a space crunch for those wanting …

How have Red Sea attacks by Yemen’s Houthi fighters affected companies?
10 months, 3 weeks ago

How have Red Sea attacks by Yemen’s Houthi fighters affected companies?

Al Jazeera  

The strikes have forced ships to change route, causing major disruptions in companies’ chains of production. The world’s second-largest exporter of LNG has stopped sending tankers via the Red Sea although production continues, a senior source with direct knowledge of the matter told the Reuters news agency on January 15. FedEx: The US parcel delivery giant said on January 14 …

How escalating Red Sea crisis poses billions of dollars of risk for India
10 months, 3 weeks ago

How escalating Red Sea crisis poses billions of dollars of risk for India

Al Jazeera  

Houthi attacks on the Red Sea have forced shippers to avoid one of the world’s most crucial trade routes. Exporting Basmati from India has become a challenge for shippers as freight costs have shot up as high as five times with an increase in insurance premiums, shortage of containers and longer transit time, said, Vijay Kumar Setia, director of Chaman …

Attacks on ships in the Red Sea are disrupting global trade. Here’s how it could affect what you buy
10 months, 3 weeks ago

Attacks on ships in the Red Sea are disrupting global trade. Here’s how it could affect what you buy

Associated Press  

WASHINGTON — Car factories have idled in Belgium and Germany. “What’s happened right now is short-term chaos, and chaos leads to increased costs,” said Ryan Petersen, CEO of the supply chain management company Flexport. Chief executive Stuart Machin said the Red Sea trouble was “impacting everyone and something we’re very focused on.” Roughly 20% of the clothes and shoes imported …

Red Sea Crisis: Agri commodities, Marine food export see maximum impact-CRISIL
10 months, 4 weeks ago

Red Sea Crisis: Agri commodities, Marine food export see maximum impact-CRISIL

Live Mint  

Red sea Crisis is posing challenges for many sectors and any aggravation of the crisis is looked as potential threat for the equity markets too as can stroke inflation. Also these regions accounted for 50% of India’s exports worth ₹18 lakh crore and 30% of imports worth ₹17 lakh crore last fiscal suggests CRISIL data. Differential impact across sectors- As …

Red Sea: Why is it important to trade and could crisis increase prices?
11 months ago

Red Sea: Why is it important to trade and could crisis increase prices?

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The UK and allies have …

Disruption to shipping in Red Sea caused by Houthi militant attacks could affect supply chains for months, warn Business chiefs
11 months, 1 week ago

Disruption to shipping in Red Sea caused by Houthi militant attacks could affect supply chains for months, warn Business chiefs

The Hindu  

Business chiefs warned on January 17 that disruption to shipping in the Red Sea caused by attacks by Yemen's Houthi militants could affect supply chains for months and lead to a shortage of tankers needed to transport fuel. "It's one of the most important arteries of global trade and global supply chains and it's clogged up right now," Maersk CEO …

Houthi Fear? Japanese Shipping Firms Suspend Transits Via Red Sea Amid Tensions | Watch
11 months, 1 week ago

Houthi Fear? Japanese Shipping Firms Suspend Transits Via Red Sea Amid Tensions | Watch

Hindustan Times  

Japanese Shipping Firms Suspend Transits Via Red Sea Amid Tensions | Watch A major Japanese shipping firm suspended Red Sea operations amid a deteriorating security situation in the crucial middle eastern waterway. Japan's Nippon Yusen, the country's biggest shipper by sales, instructed its vessels navigating near the Red Sea to wait in safe waters and is considering route changes. Two …

Centre forms panel to monitor Red Sea crisis effect on India
11 months, 1 week ago

Centre forms panel to monitor Red Sea crisis effect on India

Hindustan Times  

​New Delhi The Union government has set up an interministerial group anchored at the commerce ministry to monitor the crisis in the Red Sea, which is witnessing a violent regional spillover of Israel’s war with Hamas that is disrupting global trade, including shipments from India, officials said. FILE PHOTO: Container ships sail across the Gulf of Suez towards the Red …

Houthi attacks close vital Red Sea route for Maersk’s container ships
11 months, 2 weeks ago

Houthi attacks close vital Red Sea route for Maersk’s container ships

CNN  

London CNN — Maersk announced Friday that it will suspend all shipping through the Red Sea for the “foreseeable future” because of the threat of attacks on vessels using the vital maritime trading route. Maersk’s indefinite pause adds to fears that the febrile security situation in the Red Sea is choking one of the most important trade routes in the …

Why the Houthi attacks in the Red Sea are worrisome
1 year ago

Why the Houthi attacks in the Red Sea are worrisome

Live Mint  

The snowballing crisis in the Red Sea is threatening to disrupt an already fragile global supply chain, as shippers begin to avoid one of the world’s busiest trade routes. The Yemen-based and Iran-backed Houthi militants have fired over 100 drones and missiles at ships belonging to over 35 countries plying the Red Sea. Many large container shipping firms and BP, …

Red Sea News-Shipping Corp, other shipping, ports in focus as Red Sea route gets disrupted
1 year ago

Red Sea News-Shipping Corp, other shipping, ports in focus as Red Sea route gets disrupted

Live Mint  

The share price of shipping companies and port operators remain in focus with rise in Houthi attacks in the Red Sea leading to disruption in the shipping route. The Share prices of Shipping Corporation of India and Great Eastern Shipping Company after correcting 1.7-5.8% on Wednesday though rebounded on Thursday, nevertheless analysts remain cautiously watchful. Our sense is that the …

US announces 10-nation force to counter Houthi attacks in Red Sea
1 year ago

US announces 10-nation force to counter Houthi attacks in Red Sea

Al Jazeera  

US Defense Secretary Lloyd Austin says coalition will include Bahrain, Canada, France, Italy, UK and other countries. The United States has announced the launch of a multinational force to protect trade in the Red Sea after attacks by Yemen’s Houthi rebels forced at least a dozen shipping lines to suspend operations. US Defense Secretary Lloyd Austin said on Monday that …

Fears of Houthi attacks are rerouting commercial ships away from the Red Sea
1 year ago

Fears of Houthi attacks are rerouting commercial ships away from the Red Sea

The Hindu  

The attacks on commercial vessels in the Red Sea by Yemen's Houthi rebels have scared off some of the world's top shipping companies and oil giants, effectively rerouting global trade away from a crucial artery for consumer goods and energy supplies that is expected to trigger delays and rising prices. “The impact will be longer transit times, more fuel spent, …

Will oil prices rise after Red Sea shipping curbs amid Houthi attacks?
1 year ago

Will oil prices rise after Red Sea shipping curbs amid Houthi attacks?

Al Jazeera  

Hijackings, missile strikes and drone assaults on ships by Yemen’s Houthi rebels have forced AP Moller-Maersk, a Danish shipping and logistics giant, and Hapag-Lloyd, a German shipping and container transportation company, to pause shipments through the Red Sea. Maersk said in a statement that its decision stemmed from the company’s concerns about the “highly escalated security situation in the southern …

Adani Ports share price rises 3% as brokerages expect up to 28% upside potential
1 year, 2 months ago

Adani Ports share price rises 3% as brokerages expect up to 28% upside potential

Live Mint  

Adani Ports & Special Economic Zone Ltd share price rebounded over 3% on Tuesday's session after tumbling by almost 5% on Monday due to concerns about conflict in Israel, where the company owns a key port. Adani Ports share price opened at an intraday low of ₹799.95 apiece on BSE. Analysts indicated that even in the worst case, the impact …

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