Egypt claims Houthi attacks have cost its economy $6bn in lost Suez revenue
Egypt has suffered a $6bn hit from the Red Sea crisis and drop in Suez ...
GXO: SHEIN AND TEMU IMPACT GXO: PAYING DOWN DEBT AND ORGANIC GROWTH GXO: WINCANTON REGULATORY RISK GXO: PEAK SEASON GXO: WINCANTON STILL A DRAG GXO: FREE CASH FLOW CONVERSION GXO: RETAIL VS INDUSTRIAL TRENDSGXO: WINCANTON UPDATEGXO: CORNERSTONE DEAL SIGNED IN EUROPE GXO: STELLAR THIRD QUARTER GXO: CONF CALL ON THE WAYDSV: DHL READ-ACROSS IN FORWARDINGKNIN: NEW PAINFUL LOWDHL: CONF CALL ENDSDHL: GAUGING AUTOMOTIVE VERTICAL RISKDHL: DEMAND SURCHARGE DHL: SCHENKER READ-ACROSSDHL: ABOUT GXO LOGISTICS APPEALDHL: ASSET MIXDHL: TELL US MORE
GXO: SHEIN AND TEMU IMPACT GXO: PAYING DOWN DEBT AND ORGANIC GROWTH GXO: WINCANTON REGULATORY RISK GXO: PEAK SEASON GXO: WINCANTON STILL A DRAG GXO: FREE CASH FLOW CONVERSION GXO: RETAIL VS INDUSTRIAL TRENDSGXO: WINCANTON UPDATEGXO: CORNERSTONE DEAL SIGNED IN EUROPE GXO: STELLAR THIRD QUARTER GXO: CONF CALL ON THE WAYDSV: DHL READ-ACROSS IN FORWARDINGKNIN: NEW PAINFUL LOWDHL: CONF CALL ENDSDHL: GAUGING AUTOMOTIVE VERTICAL RISKDHL: DEMAND SURCHARGE DHL: SCHENKER READ-ACROSSDHL: ABOUT GXO LOGISTICS APPEALDHL: ASSET MIXDHL: TELL US MORE
If you harbour any hope that the Red Sea crisis might come to an end soon, The Loadstar respectfully suggests you should abandon it, as this extraordinary report in the Maritime Executive claims the Yemini militia group is earning around $180m a month in tolls from shipowners to not attack their vessels as they pass the Bab Al-Mandeb straits. The source of the article is a 537-page report from the UN’s expert panel on Yemen.
Ever wondered why some shipping lines have been able to continue passing the Yemini coastline when so many fear to sail anywhere near it? This report suggests they have been paying off the Houthis in return for safe passage, and in doing so have turned a nascent conflict into big business.
And it comes just a day after Egypt revealed the Red Sea crisis has left a $6bn hole in its public finances.
Comment on this article