marketcrash
bitcoincrash
pensions
nationaldebt
bubble
risk
debtcollapse
shipping
07/19/2024
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By Kevin Hughes
Shipping costs are rising all over the world, striking a huge blow to international trade
The impacts of restrictions on shipping in the Red Sea and Panama Canal are now being experienced around the world. Conflicts, economic downturns and restrictions on shipping all over the world are causing shipping costs to surge, straining the free flow of international trade. In the Middle East, for nearly 10 months now, Houthi forces from […]
05/03/2024
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By Cassie B.
Houthi blockades prompt Israeli port of Eilat to lay off half its workers
Blockades by Houthi rebels have seriously compromised the Israeli port of Eilat on the northern tip of the Red Sea, and now half of its workers could lose their jobs due to the resulting financial hit. Last month, Israel’s main labor federation, Histadrut, said that Eilat port management declared its intention to fire half of […]
02/01/2024
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By Arsenio Toledo
BIDENOMICS: UPS cuts 12,000 jobs due to decreased shipping volume, tense union negotiations
UPS is cutting 12,000 jobs as shipping volume – and thus, company revenue – both internationally and domestically dropped in its fourth-quarter earnings report. The company said the mass layoff is part of a broader effort to “align resources” in 2024. This effort includes mandating staff work from offices, five days a week starting on March […]
01/26/2024
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By Cassie B.
Red Sea Houthi attacks will disrupt global supply chains more than any pandemic, sending prices skyrocketing
The supply chain issues that disrupted international trade during the COVID-19 pandemic will pale in comparison to the havoc the current crisis in the Red Sea will cause, experts are warning. The U.S. and U.K. are worried enough about the situation to take proactive measures against the Houthi rebels threatening trade in the crucial sea […]
01/24/2024
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By Richard Brown
Red Sea attacks have DOUBLED the average cost of container shipping
The global shipping industry is grappling with a significant upheaval as the average cost of containers has surged to more than double its previous rate within just one month. The primary driver behind this unprecedented increase is the ongoing disruption caused by Houthi attacks on cargo vessels navigating the Red Sea. These attacks, stemming from […]
01/23/2024
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By Richard Brown
Maersk to customers: Brace for complications, disruptions in Red Sea
The situation in the Red Sea has become increasingly complex following President Joe Biden’s military strikes against Iran-backed Houthi anti-ship missile bases, raising serious concerns about global supply chain stability and economic growth. The Houthi rebels’ continued attacks on commercial vessels in the region have led to significant repercussions for the international shipping industry. Top […]
01/19/2024
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By Richard Brown
China urges U.S. to exercise restraint against Houthi rebels as Red Sea conflict poses threat to Beijing’s economic and diplomatic interests
China has issued a warning to the United States, urging restraint in its actions against Houthi rebels in Yemen as the conflict in the Red Sea intensifies, posing potential threat to Beijing’s economic and diplomatic interests. The Houthis’ persistent campaign to disrupt maritime traffic through crucial Middle East waterways, such as the Suez Canal and […]
01/16/2024
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By Belle Carter
Beijing’s shipping firm halts Israel operations despite strong ties with Houthi backer Tehran amid rising Red Sea tensions
Despite low chances of the Houthis attacking a Chinese vessel, China’s biggest shipping firm COSCO has suspended all shipping operations to Israel. This was reported by Israeli financial news website Globes on Sunday. The news outlet did not cite any sources for the information and said that COSCO had yet to notify international shippers of […]
01/11/2024
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By Cassie B.
Oil prices could double as Red Sea attacks continue, experts warn
Energy markets are bracing as attacks and disruptions carried out by Yemen’s Houthi rebels in the Red Sea are expected to send oil prices upward, with Goldman Sachs warning that prices could even double. The Houthis have been enacting what amounts to a blockade of shipping through the Red Sea and conducting ongoing attacks on […]
12/05/2023
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By Belle Carter
Egypt’s Suez Canal to take more vessels as drought-stricken Panama Canal deals with bottleneck situation
A top executive at Greek shipping firm Angelicoussis Group recently warned that Egypt’s Suez Canal will need to take a lot more vessels should the bottleneck continue to build at the drought-stricken Panama Canal entrances. Bloomberg reported that during a conference in Athens, Sveinung Stohle, the company’s deputy chief executive officer, said that this is likely […]
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