Skip to content Skip to Search
Skip navigation

Red Sea crisis

Porsche Cayenne Dubai sales

Porsche sales up 11% as Red Sea strife threatens deliveries

Porsche “simply couldn’t find the ships” to get its cars from Germany to customers in the Middle East last year, leaving it with “really low inventory”, the company’s regional CEO told a media sales briefing on Friday. Those supply chain issues have been resolved, Manfred Braunl told reporters, but he warned that the ongoing crisis […]

British Royal Navy vessel HMS Diamond launches a missile against Houthi targets in Yemen

Fears of supply disruption push crude prices over $80

Brent prices jumped by more than four percent on Friday after the US and its allies launched airstrikes against Houthi rebels in Yemen in retaliation for attacks by the Iran-backed group on ships in the Red Sea. Global crude oil benchmark Brent traded at $80.74 per barrel, slightly above the estimated break-even mark of GCC […]

Red Sea shipping Video length: 05:17

Gulf retailers absorb Red Sea shipping cost rise – for now

The Red Sea shipping crisis is only a “hiccup” in the day-to-day operations of UAE retailers, and customers will not experience any price rises or product shortages in the short term, chains are saying.  “We wouldn’t call it a crisis. This particular situation isn’t much different to the challenges we had when the Suez Canal […]

Armed men on the shore at al-Salif, Yemen, following the seizure of the commercial vessel Galaxy Leader owned by Japanese company NYK

Suez shipping traffic drops 20% as Houthi attacks continue

Shipping traffic through the Suez Canal has dropped by as much as one-fifth in the last two weeks as Yemeni Houthis continue to target vessels in the Red Sea. Statistics from the International Monetary Fund’s (IMF) PortWatch platform revealed a 20 percent drop in ships using the Suez Canal route between December 24 and January […]

Waterfront, Water, Boat Video length: 04:21

Denmark’s Maersk gears up to restart Red Sea operations

Denmark’s shipping major Maersk is planning to resume shipping operations in the Red Sea and the Gulf of Aden following the deployment of the multinational security initiative. The company had paused all vessel passage through the area earlier this month over the highly escalated security situation ensuing from attacks by Houthi militants based in Yemen. “As of […]

A Houthi military helicopter flies over the Galaxy Leader cargo ship in the Red Sea

BP and Equinor divert tankers from Red Sea

Two European oil and gas companies, BP of the UK and Equinor of Norway, have joined a group of shipping lines that are diverting their tankers away from the Red Sea, following missile and drone attacks by Yemen’s Houthi militants. BP said in a statement: “The safety and security of our people and those working […]

People dance on the deck of the Galaxy Leader, seized by Yemen's Houthis last month, off the coast of al-Salif

Jet fuel most exposed to Red Sea closure, analysts say

Trade analysts warned on Monday that jet fuel is the commodity most exposed to an interruption of trade in the Red Sea, as the world’s main shipping companies said that they would avoid the waterway because of missile and drone attacks.  Several container shipping lines, including CMA CGM of France, MSC of Switzerland and A.P. […]