Due to vessels detouring around the Cape of Good Hope and a reduction in capacity by shipowners, extensive rerouting in the Red Sea and Mediterranean region has resulted in a Far-East to North-West Europe capacity loss of around 20%, and the situation is worsening. Shipping costs are rising, and it is estimated that the situation…
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You may have seen in the news recently that pro-Hamas Houthi rebels in Yemen have been attacking ships linked to or heading to Israel. The Houthis, responding to the Gaza war, have escalated attacks, targeting commercial vessels as well as impacting East-West trade routes especially for oil. The escalating security crisis in the Red Sea…
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