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The Latest Breaking News from the Suez Canal

Egypt's Non-Oil Sector Impacted By Suez Canal Disruption

Learn about the impact of the Suez Canal blockage on Egypt's non-oil sector and the challenges faced by businesses post-disruption.

Top News

A revival of the IMEC idea amid choppy geopolitics

Even if the Yemen conflict, ironically, an offshoot of the Gaza war, abates soon, it has made the case for viable alternatives to the Suez Canal stronger

The Hindu

As Houthi attacks on ships escalate, experts look to COVID supply chain lessons

Shipping experts hope lessons learned during the COVID-19 pandemic, the Suez Canal disruption in 2021 and Somali pirate attacks more than a decade ago will mitigate widespread problems this time.

WEKU

Oil supply tightens in Europe over Red Sea disruptions

The volume going to Europe from the Middle East has nearly halved amid continuing attacks by Yemen’s Houthi rebels.

Al Jazeera

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Red Sea crisis: Suez Canal is not the only 'choke point' that threatens to disrupt global supply chains

The air strikes against targets in Yemen by the US and UK military have not been without criticism. They aim to keep the Houthis from attacking merchant vessels in the Bab el-Mandeb strait. Less than 30 ships have been attacked by Houthis since they seized the Israeli-linked Galaxy Leader vessel…

The Conversation

Red Sea, Panama Canal Send Container Freight Costs Soaring – What It Means For Global Economy And Wall Street

The Panama Canal drought causes severe shipping delays from Asia to the U.S. East Coast, particularly for heavy goods. Carriers are rerouting from trans-Pacific to trans-Atlantic via the Suez Canal, with alternate routes increasing transit times by 20-30%.

International Business Times

Oil prices steady despite Middle East tensions, but risks are rising

Despite diverting supplies from the Suez Canal, tensions in the Red Sea have so far had a muted impact on energy prices.

Al Jazeera

Huthi Attacks Idle Suez Canal, Deepen Egypt's Economic Woes

Attacks by Yemen's Huthi rebels in the Red Sea have caused shipping companies to avoid the Suez Canal -- a key source of revenue for Egypt as it battles a deep economic crisis.

International Business Times

Maritime conflict escalates as US intercepts Houthi drones and missiles

Explore the impact of the conflict in the Middle East on global trade as the US Navy intercepts drones and missiles, raising questions about US involvement.

Top News

How Red Sea attacks on cargo ships could disrupt deliveries and push up prices – a logistics expert explains

Attacks on international cargo ships in the Red Sea from Houthi-controlled Yemen have seen several cargo vessels hit by missiles and drones in recent days.

The Conversation

Houthis Ruin Christmas

Plus: The fertility crisis, the origins of Israel, El Segundo's tech scene, and more...

Reason

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Evening Standard

Royal Navy destroyer HMS Diamond joins US-led maritime task force to patrol Red Sea as oil tanker hit

US, UK and other allied ships will seek to shoot down missiles and drones fired at commercial vessels in the Red Sea

The Independent UK

British holidaymaker describes ‘nightmare’ ordeal after 137ft yacht capsizes in ‘Bermuda Triangle’

Boat was in Red Sea near Hurghada and the Suez Canal last month when disaster struck

Caixin Global

Cosco’s Egypt Terminal Project Enters Antitrust Review

Chinese shipping giant and partners Hutchison Ports and France’s CMA CGM plan to co-develop and operate a container unit at the Suez Canal

Fortune

The shipping company that blocked the Suez canal has dished out another massive bonus to staff

The going's been good for Evergreen Marine Corp. staff, who just got their second bonus in three months.

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ABC News

Moscow is betting big on its Arctic shipping route as the costs of invading Ukraine continue to mount

For the past decade, Vladimir Putin has been quietly pursuing his goal of transforming Russia's frozen northern coast into a global shipping hub to rival the Suez canal. It's a bet that appears to be paying off at a key moment.

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