The Suez Canal, is a key source of foreign currency for Egypt, and authorities have been trying to boost its revenues in recent years
Red Sea shipping disruptions having a ‘cascading impact’ said the shipping giant
The longer route around the Cape of Good Hope, to avoid attacks by Yemen’s Houthis in the Red Sea, has pushed up shipping costs as well as emissions
Maersk’s fuel costs on the affected routes between Asia and Europe are now 40 per cent higher per journey
Habben Jansen said the Red Sea crisis had rather enforced route changes
The Suez Canal is an important source of dollar revenues for Egypt
About 12 per cent of world shipping traffic transits the canal and 4-8 per cent of global LNG cargoes have passed through it in 2023
The Middle East crisis is already raising shipping and insurance costs through the critical Red Sea area
Maersk will deploy two of its solutions for customers moving their cargo through Jebel Ali
DP World aims to connect all of its 82 marine and inland container terminals, as well as feeder companies and logistics divisions with TradeLens