Since January 15, Qatar has diverted at least six shipments destined for Europe around the Cape of Good Hope in southern Africa.

The vessels are designed to flex between methanol and conventional diesel bunker fuel and will include technologies such as optimized hull form, waste heat recovery systems and bow windshield.

Samsung Heavy Industries said that the two very large ammonia carriers (VLACs) are scheduled to be delivered by the end of November 2027.

Mohamed El-Erian, the former CEO of the investment management firm PIMCO, warned that shipment disruptions caused by Houthi attacks could cause shipping costs to increase while hindering global economic growth.

The new cooperation between Hapag-Lloyd and Maersk will comprise a fleet pool of around 290 vessels with a combined capacity of 3.4 million containers (TEU); Maersk will deploy 60% and Hapag-Lloyd 40%.

The Port of Los Angeles ended up handling roughly 8.6 million TEUs in 2023, a 13% drop off when compared to 2022.

The California-based oil giant is working with naval authorities in the U.S. and Middle East to move its cargoes through the region, said CEO Mike Wirth.

Michelin suspended shifts at Spanish plants during the weekend of January 13 due to raw material delivery delays that arrive by sea from Asia.

The situation is even causing a rise in demand for shipping containers in Asia as shippers and forwarders foresee cargo demand in the coming weeks.

Tesla is one of the first companies in the world to disclose that Houthi militant attacks in the Red Sea caused the organization to suffer output disruptions.