Houthi attacks trigger "environmental disaster" and rising freight rates
The attack on the UK-owned carrier left an “18-mile oil slick” in the Gulf of Aden, threatening marine ecosystems and freight prices.
Source: ship-technology.com
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Red Sea Attacks Hike Up Shipping Insurance Rates
Houthi attacks on commercial ships in the Red Sea hiked the shipping insurance rates, with fees being imposed to cover risks associated with conflicts. Since last Nov. 19, Iran-backed Houthis have targeted ships in the Red Sea that they suspect are linked to Israel or heading to its ports. Houthis say their attack is in support of the Gaza Strip, which has been witnessing a war since Oct. 7, 2023. According to the International Monetary Fund (IMF), Red Sea container shipping dropped 30% within a year.
Source: aawsat.com
Red Sea ship attacks not driving inflation, Moody's says | Business
Attacks on merchant vessels in the Red Sea have delayed cargo and sent shipping costs higher, but soft demand and...
Source: ammonnews.net
Red Sea ship attacks not driving inflation, Moody's says | WKZO | Everything Kalamazoo
By Lisa Baertlein (Reuters) - Attacks on merchant vessels in the Red Sea have delayed cargo and sent shipping costs higher, but soft demand and ample ship availability are muting the impact on inflation, analysts from Moody's Investor Service said...
Source: wkzo.com
Red Sea attacks not impacting inflation despite diversion of shipping route
Ships are being diverted away from the nearby Suez Canal trade shortcut to the longer and more expensive route around Africa. But, the diversions are not expected to have a huge effect on inflation because they are not driven by demand
Source: livemint.com