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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...
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 a new risk to its outlook and could derail plans by central banks to start cutting interest rates this year. WHAT HAS BEEN THE IMPACT ON THE EUROPEAN ECONOMY SO FAR?
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Pepco said it already has shipping contracts in place until the middle of the year, but that it had been hit by "additional surcharges" from some of its carriers as ships are routed around the Cape of Good Hope
Pepco Group has reported a 2.3% fall in underlying sales in the Christmas quarter but said it gross margin had improved.