All posts tagged "Red Sea"

Houthi attacks on commercial vessels in the Red Sea caused 42% fewer ships to travel through the Suez Canal this January than at the peak in the first half of last year, a UN trade body said on Thursday, warning that the full impact has yet to be felt by consumers. The disruption on the route that connects the Red Sea and the Mediterranean has caused spot container prices from Shanghai to Europe to rise by an average of 256% between the beginning of December and the end of January, the UN Conference on Trade and Development (UNCTAD) said, citing just one example. Houthi militants from Yemen ha......

By Victoria Waldersee BERLIN (Reuters) -Tesla will suspend most car production at its factory near Berlin from Jan. 29 to Feb. 11, the company said on Thursday, citing a lack of components due to shifts in transport routes because of attacks on vessels in the Red Sea. The partial production stop is evidence that the crisis in the Red Sea, unleashed by Iranian-backed Houthi militants attacking vessels in solidarity with Palestinian Islamist group Hamas fighting Israel in Gaza, has hit Europe's largest economy. The U.S. electric vehicle maker is the first company to disclose an interruption to o......