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In response to the crisis in the Red Sea, where recent attacks against commercial shipping have occurred, Denmark's Maersk is scheduling several dozen container vessels to return to the Suez Canal and Red Sea route. In contrast, firms like Hapag-Lloyd and Evergreen Line continue to reroute around Africa's Cape of Good Hope due to safety concerns. The crisis has led to higher costs and delays for suppliers and retailers, with about 20% of the global container fleet, or 299 vessels, changing course. This has affected companies such as IKEA, Home Depot, and Amazon. Indian refiners are also seeking alternative oil supplies. The US has sanctioned an individual and three currency exchange houses for facilitating Iranian funds to Yemen's Houthis and has launched a maritime force to secure the region, although it lacks broad international support. The US military has shot down a Houthi drone and missile in the Red Sea. To compensate for the increased danger, shipping companies in Denmark have agreed to double wages for crews sailing through the Red Sea. Some ships have begun broadcasting that they have no ties to Israel to secure safe passage, and Iran-backed Houthis have fired ballistic missiles at American ships. Despite these challenges, the US is encouraging shippers to use the Red Sea and Suez Canal, which remains a vital trade artery.
The US military is trying to reassure shipping companies that a multinational force is making it safe to sail through the Red Sea and Suez Canal even though attacks from Yemen-based Houthi rebels show no sign of stopping. https://t.co/hKN9ZbFbBU via @CMcBinDC @DanielPFlatley https://t.co/kPJQM99NJt
Live update: Germany’s Hapag-Lloyd, Japan’s 2 largest shipping firms to keep avoiding Red Sea https://t.co/0cUHWy6LZi . Click to read ⬇️
Europe-bound diesel, jet fuel cargoes divert from Red Sea https://t.co/6yieA3cSjM https://t.co/p1tCquqjbD
Iran-Backed Houthis Fired Ballistic Missiles at American Ships Again https://t.co/LrUXzx4fs2
Half of the container ship fleet that regularly transits the Red Sea and Suez Canal is now avoiding the route because of the threat of attacks in the region https://t.co/00qbp8L7QS via @b_muzz @alexlongley1 https://t.co/hdiI3MmyTM
US Tries to Persuade Shippers to Sail Red Sea Despite Houthi Attacks - BBG https://t.co/pYRaGDuSPO
The shipping industry in Denmark, home to some of the world’s largest firms, agrees to double wages for crew sailing through the Red Sea to compensate for the danger posed by the recent attacks https://t.co/NVQp9CQwdg
Excellent excellent article by @battleforeurope . Really super important to understand. Regardless of your political perspective, this is an incredibly important look at what giving up your nation's monetary sovereignty will do to you. Sometimes, the "good guys" aren't so good. https://t.co/NErMF81DDi
Hapag-Lloyd will continue to avoid the Red Sea. Next assessment is next week. https://t.co/hg7g6I5bqC https://t.co/pNwIzPfaPh
Hapag-Lloyd: will continue to divert vessels from the Suez Canal https://t.co/WSJedcMUaN https://t.co/HKG9tqe7j0
.@Bloomberg on the Red Sea crisis, reporting that some ships have begun broadcasting that they have no ties to Israel to secure safe passage. @alexlongley1 & @b_muzz: https://t.co/yyQDlD63zN https://t.co/eBXqxR8PlV
Red Sea traffic is down by half • 299 vessels have either changed course or plan to • Double the number from a week ago • Equates to about 18% of global capacity https://t.co/ZQI9RufQQI https://t.co/sE2KFWkg4O
BREAKING: US military says it shot down a drone and an anti-ship ballistic missile in the Red Sea that 'were fired by the Houthis'
The US is trying to persuade shipping companies to sail through the Red Sea and Suez Canal even though attacks from Houthi rebels show no sign of stopping https://t.co/Ds8G4JotJN
The United States announced the launch of a new international maritime force in response to Yemen's Houthi attacks on Red Sea shipping. But just over a week after the launch, many US allies don't want to be associated with it publicly, or at all https://t.co/OGzdSVltZd https://t.co/0az7T1dTqG
Oil prices are about to cap off a 3rd-straight month of losses, even as Red Sea attacks disrupt supplies https://t.co/gpnHIX68Qh
⚠️ JUST IN: *OIL PRICES FALL ALMOST 3% AS RED SEA SHIPPING DISRUPTIONS EASE https://t.co/nwQDk8BBZh 👈 $CL_F #OOTT https://t.co/s7NtzeTq7v
🔴 BRENT CRUDE FUTURES SETTLE AT $78.39/BBL, DOWN $1.26, 1.58%.
In its latest response to attacks on shipping by the Houthis, the US sanctioned an individual and three currency exchange houses it accused of facilitating the flow of Iranian financial assistance to the Yemeni movement https://t.co/CRExcwartr
U.S. Sanctions Network Funding Houthis In Response To Red Sea Attacks https://t.co/UMfuq0s7Uo https://t.co/MxtALuF2FZ
Biden hoped to present a firm international response to Yemen's Houthi attacks on Red Sea shipping by launching a new maritime force, but a week later allies don't want to be associated with it, partly because of widespread anger over Israel's war on Gaza https://t.co/OGzdSVltZd https://t.co/7yC5NV4NWt
US cracks down on money flow to Iran-backed Houthis https://t.co/jdTzB9IUpm
US targets flow of Iranian funds to Yemen's Houthis over attacks https://t.co/xwEhZZMfYF https://t.co/qeAlb3aPJt
What Houthi Red Sea attacks mean for global trade https://t.co/PEkqYZN1Cs
⚠️ U.S. SANCTIONS ALLEGED CONDUITS OF IRANIAN FUNDS TO YEMEN'S HOUTHIS - In its latest response to attacks on shipping by the Houthis, the United States on Thursday sanctioned an individual and three currency exchange houses that it accused of facilitating the flow of Iranian… https://t.co/4KUvYIfEi6
Half of Red Sea container-ship fleet avoids route after attacks https://t.co/SauoYBcC6h via @buiness
Oil prices slide as Red Sea transport disruptions ease - Reuters https://t.co/9TN4tgT1qd
US allies reluctant on Red Sea task force - Reuters https://t.co/wREYU3Fm5u
"The tally compiled by @flexport shows 299 vessels with a combined capacity to carry 4.3 million containers have either changed course or plan to" 299 Containerships Reroute to Avoid the Red Sea, Doubling in Number from Last Week https://t.co/6KB2VAQ2TY
Maersk to send almost all ships via Suez, schedule shows https://t.co/D6fWsRrcOy https://t.co/YxMrqKFgli
Container liners still the primary impact of re-routing away from the Red Sea. https://t.co/vl50ilqigF
Suppliers for the likes of IKEA, Home Depot, Amazon and retailers around the world are racing to reroute cargo away from the Suez Canal following militant attacks on vessels in the Red Sea https://t.co/4T1vaFVyub
Half of Red Sea Container-Ship Fleet Avoids Route After Attacks The tally compiled by Flexport Inc. shows 299 vessels with a combined capacity to carry 4.3 million containers have either changed course or plan to. That’s about double the number from a week ago and equates to… https://t.co/zTnOQ61WDY
US President Joe Biden hoped to present a firm international response to Yemen's Houthi attacks on Red Sea shipping by launching a new maritime force, but a week after its launch many allies don't want to be associated with it https://t.co/erio2LUumg
Half of the Red Sea’s container-ship fleet avoids route after attacks https://t.co/dTAFqSwXaD via @b_muzz @alexlongley1 https://t.co/XzGrjgGuOA
Half of the container ship fleet that regularly transits the Red Sea and Suez Canal is now avoiding the route because of the threat of attacks in the region https://t.co/4xIm71aYrO
⚓️ US ALLIES RELUCTANT ON RED SEA TASK FORCE (Reuters) U.S. President Joe Biden hoped to present a firm international response to Yemen's Houthi attacks on Red Sea shipping by launching a new maritime force, but a week after its launch many allies don't want to be associated… https://t.co/QR6fbeqPdJ
⚓️ As of Wednesday, nearly 20% of the global container fleet - or 364 hulking container vessels capable of carrying just over 2.5 million full-sized containers - had been set on a new course due to the Red Sea attacks, according to Kuehne + Nagel data. https://t.co/3fTbRrRH0d
⚓️ RED SEA SHIPPING WORKAROUNDS ADD COSTS, DELAYS FOR SUPPLIERS, RETAILERS Toymaker Basic Fun's team that oversees ocean shipments of Tonka trucks and Care Bears for Walmart and other retailers is racing to reroute cargo away from the Suez Canal following militant attacks on… https://t.co/krZtPYd6s8
Yet at the same time they are saying interests rates will be lowered as the US Navy try to stop a blockade of the Suez Canal and conflict heats up in the Middle East. 🧠 https://t.co/E4HTOBwCW4
Refiners in India are seeking to boost oil supplies from the Middle East and other nearby nations as recent attacks on ships in the Red Sea raise the risk of longer shipping time and higher costs, sources say https://t.co/AQ5cbewLOt
Red Sea shipping workarounds add costs, delays for suppliers, retailers https://t.co/vQBUyrOluV https://t.co/1CVH2w9FAr
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, in a further sign that global shipping firms are returning to the route. German rival Hapag-Lloyd still considers the situation too dangerous… https://t.co/xvzgdxs6VS https://t.co/wagrR5Qa1K
⚠️ RED SEA SHIPPING WORKAROUNDS ADD COSTS, DELAYS FOR SUPPLIERS, RETAILERS Full Story → https://t.co/YvRXGKBH2Z https://t.co/8Er60JQ3uc
The situation in the Red Sea is unstable, and #shipping companies have different attitudes about returning to the #RedSea. Hapag-Lloyd and Evergreen Line said they will continue to divert to Africa's Cape of Good Hope; Msc Mediterranean shipping company also said it would…
Starting to suspect the Red Sea crisis was engineered by Big Containership to maintain their COVID crisis era profits. Cui bono? I’m just saying… 🤔 https://t.co/zeZRBdbj4S
Starting to suspect the Red Sea crisis was engineered by Big Containership to maintain their COVID crisis era profits. Cuo bono? I’m just saying… 🤔 https://t.co/zeZRBdbj4S
A great article by @mercoglianos that raises several important questions about the protection of shipping in the Red Sea. If you read only one article about #OperationProsperityGuardian, read this 👇 https://t.co/ygUx5DRZcs
Houthi attacks on Israel and Red Sea shipping lanes have endangered U.S.-backed talks to wind down Saudi Arabia’s war in Yemen https://t.co/8lLVRCfXrC https://t.co/8lLVRCfXrC
Hapag-Lloyd Warns Red Sea 'Still Dangerous' Amid Maersk's Resumption Plans https://t.co/yhkvcyFdQK
Maersk plans extensive suez canal route for dozens of vessels https://t.co/MqELyv5h2Z https://t.co/LApdUx4swj
#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, it says, in a further sign that global shipping firms are returning to the route. https://t.co/5PYiCJOyiL
Your daily reminder that cargo and container ships continue to flow through the Red Sea, although some major international shipping firms have rerouted. https://t.co/CFnqw51omh
The recent attacks against commercial ships travelling through the #RedSea, a vital artery of global trade that connects #Europe to #Asia, by Houthi militants backed by #Iran & operating out of Yemen showcases the range of the ongoing crisis:@Kabirtaneja https://t.co/N2nE0Mdagy