Eilat Port, Israel’s southern sea gate, is used for trade with the Far East and Australia. However, ever since the Houthis’ missile threats to transiting vessels virtually blocked their pathway through Bab el-Mandeb strait, Eilat’s port has found itself cut off. The result has been a halt to all import and export activities. For more […]
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Oil prices regained some ground in Asian trade on Wednesday amid concerns over attacks on shipping in the Red Sea and growing expectations that cuts to US interest rates will take longer than thought. Brent crude futures rose 24 cents or 0.3% to $82.58 a barrel by 7:21 GMT, while US West Texas Intermediate crude […]
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European retail industry body Eurocommerce called on European Union institutions and member states to resolve the Red Sea crisis that has disrupted trade, saying in a letter to Belgium’s foreign minister that it has already had “massive impacts” on businesses. Shipping companies have rerouted container vessels away from the Red Sea to avoid Houthi militant […]
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The attacks of Iran-backed Houthi rebels on ships in the Red Sea have wreaked havoc on imports to countries passing through the body of water, and among those Israeli organizations that have suffered is the voluntary organization, Yad Sarah. The medical-equipment loan organization, which also carries out numerous services to the ill, elderly, and lonely, […]
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Weeks of attacks by Iranian-backed Houthi militants on vessels in the Red Sea have disrupted shipping in the Suez Canal, the fastest sea route between Asia and Europe carrying 12% of global container traffic. For the European economy, already skirting a mild recession as it tries to shake off high inflation, prolonged disruption would be […]
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At least six further oil tankers have either diverted their course away from, or paused before entering the southern Red Sea since the weekend, ship tracking data from LSEG and Kpler show. That takes the total number of shipping disruptions counted by Reuters to at least fifteen in total since the US-led strikes on Houthi […]
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As Iranian-backed Houthi terrorists in Yemen continue their missile and pirate attacks in the Red Sea and other bodies of water, measures are being taken to ensure the safety of port workers in Israel. The attacks have led to various incidents directly affecting port workers in Israel, including increased risks, physical strain on workers due […]
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Some of the world’s largest shipping firms, including Maersk and CMA CGM, will impose extra charges after they re-routed ships in response to attacks on vessels in the Red Sea, as worries about disruption to global trade grow. The surcharges, designed to cover longer voyages around Africa compared with routes via the Suez Canal, will […]
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German shipping company Hapag-Lloyd said on Thursday it was the latest company planning to avoid the Red Sea after attacks there by Yemen’s Houthi group on merchant vessels, which have disrupted global trade and triggered a multinational naval action. Hapag-Lloyd said it would reroute 25 ships by the end of the year from the key […]
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Two major freight firms including MSC Mediterranean Shipping Co, the world’s biggest container shipping line, on Saturday said they would avoid the Suez Canal as Houthi terrorists in Yemen stepped up their assaults on commercial vessels in the Red Sea. Yemen’s Iranian-backed Houthi movement has been attacking vessels in response to the Gaza war on […]
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