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Container lines avoiding using the Suez Canal because of unrest in the Red Sea could boost global bunker demand by as much as 2%, according to a Ship & Bunker analysis.
Mounting attacks by the Iran-aligned Yemeni Houthi militant group on ships in the Red Sea are disrupting maritime trade as leading global freight firms reroute around the Cape of Good Hope to avoid...
Oil major BP has joined container lines in suspending shipping through the Red Sea after a series of Houthi attacks on ships. Far East-Mediterranean box freight rates jumped 20% at the weekend
Liner operators could speed up vessels to make up for longer voyages, as they will require additional capacity to maintain services that typically used the Red Sea route, according to analysts
If attacks in the Bab el-Mandeb Strait escalate, freight rates for shippers moving product in the waterway could double, one analyst said.