Why Suez Canal disruption may not have a huge impact on inflation Red Sea Crisis Disruption in the Suez Canal has caused widespread concern over the impact on inflation. However, the cause of those fears might not be justified.
Shipping stocks fall as Maersk schedules dozens of vessels to travel through the Suez Canal Shipping Denmark's Maersk has scheduled several dozen container vessels to travel via the Suez Canal and the Red Sea in the coming days and weeks.
Red Sea attacks: Why Suez Canal traffic collapse could power higher inflation Red Sea The number of container ships arriving at the mouth of the Red Sea plunged 90 per cent year-on-year through the first week of January.
Ever Given’s blocking of Suez Canal shows threat posed by global warming, Marsh says November 10, 2022 The blocking of the Suez Canal by the cargo ship Ever Given shows the threat climate change poses to the global economy, according to a new report from the world’s largest insurance broker Marsh. Rising sea levels and an uptick in extreme weather events could wreak havoc on global supply chains by disrupting key shipping [...]
Suez Canal to expand two-way section by 10km February 15, 2022 The Suez Canal’s two-way section will see a 10km expansion, according to Osama Rabie, chairman of the Suez Canal Authority (SCA). The chairman said in a press conference that, following the expansion, the canal will only go from 72km to 82km, as it is too expensive to expand the whole waterway. Rabie added that the [...]
Ever Given’s sister vessel runs aground in US a year after Suez Canal incident March 16, 2022 Container ship Ever Forward has run aground in the US, almost a year after its sister vessel Ever Given blocked the Suez Canal for a week. The US Coast Guard said today it was initially notified about the incident on Sunday and it has reported the container ship is stuck outside the Chesapeake Bay, Maryland. [...]
Suez Canal hikes tolls during ports crisis to capitalise on booming cargo trade November 5, 2021 Transit tolls in the Suez Canal are rising by six per cent next year for nearly all ships, despite the waterway reporting record revenues of $5.8 billion during the pandemic. The Suez Canal Authority is now looking to harness a booming cargo trade, with global trade traffic set to increase by nearly seven per cent [...]
Ever Given docks in Felixstowe after blocking Suez Canal August 3, 2021 Ever Given finally docked at the Port of Felixstowe on Tuesday after blocking the Suez Canal earlier this year. The ship was stuck for six days in the major shipping lane in Egypt, causing mass disruption to the global supply chains in April. Ever Given’s mooring at the Port of Felixstowe today has attracted dozens [...]
Egypt agrees to release Ever Given ship that blocked Suez Canal in March July 5, 2021 Egypt and the insurers of the Ever Given – the ship that blocked the Suez Canal earlier this year – have reached an agreement, which will allow the container to leave the country. The blockage, back in March, disrupted global trade as the 400m long ship prevented hundreds of ships from passing the 193km water [...]
Efforts to free ship stranded in Suez Canal continue March 28, 2021 Efforts to dislodge the large container ship stuck across the Suez Canal will continue today after attempts on Saturday’s high tide failed. The 400 metre Ever Given became wedged in the canal on Tuesday which has caused chaos for global shipping. More than 300 ships are stuck on either side of the blockage while some [...]