Port of Eilat declares bankruptcy

Seafarers aboard the Serafina face inhuman conditions including lack of employment contracts, unsanitary facilities, and bug infestations, while sixteen Syrian and Indian crew members are stranded in Hodeidah.

HPHT sees higher volumes at its Hong Kong container terminals amid Red Sea disruptions as an early peak season bolsters export volumes to the US and the EU.

Suez Canal’s annual revenue fell by approximately 23.4% in the fiscal year 2023/2024, driven by the impact of the Red Sea crisis.

Due to Red Sea unrest reducing delivery reliability, European shippers are ordering Christmas items from Asia about two months earlier than usual.

As the Red Sea crisis protracts into the third quarter of 2024, Maersk points to the domino effect of the disruptions across the global ocean network.

BIMCO now predicts that normal shipping routes through the Red Sea and Suez Canal will not resume until 2025.