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Further Red Sea disruptions would pile pressure on a struggling Chinese economy already contending with a property crisis, weak consumer demand, a shrinking population and sluggish global growth.
Attacks on container ships in the Red Sea have wreaked havoc on one of the world’s most important trade routes, increasing shipping costs and raising inflation fears. Here’s what you need to know.
Experts agree that in theory, the Red Sea crisis could certainly cause shipping costs and oil prices to soar, leading to a resurgence in global inflation that would force the Federal Reserve to ...
Red Sea crisis Part of the Iran–Israel proxy conflict, the Middle Eastern crisis (2023–present), and the Yemeni crisis Map of Houthi activity near the Yemeni coast: Houthi-controlled Yemen (SPC) Government of Yemen (PLC) Houthi attacks (red) and hijackings (blue) Date 19 October 2023 – present (1 year, 2 months, 2 weeks and 1 day) Location Red Sea, Gulf of Aden (esp. Bab-el-Mandeb ...
The U.S., along with Maersk security personnel aboard the ship, repelled the attack. The U.S. sank three Houthi vessels, killing ten Houthis. Maersk announced a 48-hour pause on shipping through the Red Sea following the incident. [1] On January 2 Maersk announced a halt on shipping through the Red Sea due to Houthi attacks. [2]
The Malta-flagged bulk carrier Morea, managed by Eastern Mediterranean Shipping, was targeted in the Red Sea. She was en route to India from Russia. Sealady: The Malta-flagged bulk carriers Sealady, also managed by Eastern Mediterranean Shipping, was targeted in the Red Sea. Her AIS said she held Russian cargo.
Maersk has imposed a 48-hour delay on its vessels moving through the Red Sea, following an attack on one of its merchant ships by Iranian-backed Houthi fighters based in Yemen.
The operation aims to ensure both the freedom of navigation and the safety of maritime traffic in the Red Sea, Bab al-Mandeb and Gulf of Aden. [1] Following the start of the 2023 Israel–Hamas war, multiple civilian container and freight ships were attacked and hijacked in the Gulf of Aden by Houthi forces. [28]