Suez Canal: crisis drags on as shipping rates surge March 26, 2021 Seven tankers were diverted away from the Suez Canal on Friday after traffic was suspended through the waterway where a large container ship has been stuck since Tuesday. Read more: Suez Canal: Rescue mission to recover ‘beached whale’ ship could take weeks Three of the tankers are being diverted towards the longer route around the [...]
Suez Canal: Stranded ship Ever Given finally back on the move March 29, 2021 A large container ship that grounded in the Suez Canal and blocked the waterway for almost a week is finally back on the move. The 400-metre Ever Given, which became wedged in the canal on Tuesday and has wreaked havoc for global shipping, was refloated this morning. In a statement the Suez Canal Authority said [...]
Ever Given ship faces seizure as Suez Canal operators demand compensation April 13, 2021 The Ever Given Ship that blocked the Suez Canal for six days last month faces seizure by Egyptian courts as the waterway’s operators demand compensation for lost revenue. A court in the Egyptian city of Ismailia this afternoon granted the Suez Canal Authority’s request for the 1,312ft ship to be seized, according to state-run news [...]
Shoe Zone blames higher costs and Red Sea disruption for ‘slower than expected’ sales March 12, 2024 Shoe Zone has blamed higher costs, the disruption in the Red Sea and "slower than expected" sales at the end of 2023 for its reduced performance in recent months.
Oil prices rise as as output cut hopes offset Suez Canal reopening March 29, 2021 Oil prices rose nearly one per cent today as hopes that Opec+ will hold output cuts reversed an earlier slump linked to the reopening of the Suez Canal. Futures had dropped earlier today after container ship Ever Given, which had grounded in the Suez Canal and blocked the waterway for almost a week, was refloated. [...]
Container ship ‘successfully refloated’ after blocking Suez Canal for nearly a week March 29, 2021 The large container ship stuck in the Suez Canal has reportedly been refloated raising hopes the waterway will soon open. The 400 metre Ever Given became wedged in the canal last Tuesday causing chaos for global shipping. Nearly 400 ships are still stuck on either side of the vessel with some companies having to reroute [...]
Biden on Red Sea: Strikes haven’t stopped Houthi attacks – so we’ll carry on January 19, 2024 US President Joe Biden pledged to continue attacks on Houthi sites in Yemen in an effort to restrict the militant group's ability to disrupt shipping in the Red Sea.
Will FTSE 100 giant Next continue to top the retail leaderboard? March 16, 2024 Next will unveil its full year earnings this coming Thursday, as investors gear up to see how the FTSE 100 firm has navigated a challenging period for retailers.
Red Sea crisis sees Europe import decade-high US diesel oil volumes January 25, 2024 European imports of Middle Eastern oil have plummeted since the January Red Sea attacks by Houthi rebels
50 days after the Ever Given blocked the Suez canal, supply chains still have not recovered May 12, 2021 On the 29th of March, tug boats and dredgers freed the Ever Given from the banks of the Suez Canal. In just six days the blockage obstructed over $60 billion of global trade, sending disruptive ripples to every corner of the world. The beached container ship, weighing in at 220,000 tonnes and longer than the [...]