All articles tagged with #shipping disruptions
Originally Published 4 months ago — by The Hill
The U.S. de minimis tariff exemption for goods valued at $800 or less is ending following an executive order by President Trump, leading to increased shipping restrictions and potential impacts on major retailers and importers, with some countries suspending shipments to the U.S. due to new compliance and duty collection concerns.
Originally Published 4 months ago — by Axios
European postal agencies are pausing or restricting shipments to the U.S. due to the end of the de minimis tariff exemption, which could disrupt small-package commerce and affect millions of packages, especially impacting retailers like Shein and Temu.
Originally Published 4 months ago — by NPR
European parcel companies are temporarily suspending some shipments to the U.S. due to new U.S. tariff policies that eliminate the 'de minimis' exemption for packages over $800, leading to logistical uncertainties and disruptions in international shipping. While the policy aims to increase tariff revenue and prevent illicit imports, it has caused significant operational challenges for European postal services, with some expecting the disruptions to be brief while they adapt to new customs procedures.
Originally Published 1 year ago — by Yahoo Finance
Carnival warns that the collapse of the Francis Scott Key Bridge in Baltimore could cost the company up to $10 million this year, prompting the temporary relocation of its operations to Norfolk, Virginia. The bridge collapse has led to vessel traffic suspensions at the Port of Baltimore, causing disruptions for companies like Flexport, which is scrambling to reroute containers. This incident adds to a series of sea-bound disruptions this year, including attacks in the Red Sea and congestion near the Panama Canal, potentially leading to increased transport expenses and impacting the prices of goods.
Originally Published 1 year ago — by Al Jazeera English
Attacks by Yemen’s Houthi rebels in the Red Sea have disrupted international trade, forcing shipping companies to reroute vessels and causing major disruptions in companies’ supply chains. This has impacted various industries, including automotive, energy, logistics, retailers, and others, leading to delays in production, increased freight rates, and higher transport costs. Companies are adjusting routes, activating mitigation plans, and seeking alternative delivery methods to cope with the ongoing disruptions.
Originally Published 1 year ago — by gCaptain
Houthi attacks in the Red Sea have caused a rapid surge in ocean freight rates, surpassing the speed of increase seen during the initial phase of the Covid-19 pandemic, according to Xeneta. Shipping costs on main routes from the Far East to Europe have risen over 200% within the first 52 days of the crisis, leading to disruptions and suspicions among shippers about carriers trying to maintain high rates. While the crisis's immediate impact is significant, it's not expected to be as long-lasting as the pandemic, and rates are anticipated to decrease once carriers can handle the capacity shortage in the Far East.
Originally Published 2 years ago — by gCaptain
Disruptions to Red Sea freight due to Yemen's Houthi attacks are causing shipping costs to surge, threatening the survival of Chinese exporters like Han Changming's trading company. The vulnerability of China's export-reliant economy to supply snarls and external demand shocks has been exposed, with potential impacts on global supply chains and a shift towards "near-shoring" production. The disruptions are compounding existing challenges for the struggling Chinese economy, with concerns about delayed shipping, container shortages, and the potential closure of companies with shrinking margins.
Originally Published 2 years ago — by Reuters.com
Disruptions to Red Sea shipping due to attacks by Yemen's Houthi militants are causing shipping costs to surge, threatening the survival of Chinese exporters and pressuring the country's export-reliant economy. The rerouting of vessels is adding delays and costs, prompting some companies to consider shifting production closer to home. The disruptions are compounding challenges ahead of Lunar New Year, and smaller suppliers with tight margins are particularly vulnerable. The impact is felt across various industries, with concerns about delayed payments and potential closures of struggling companies.
Originally Published 2 years ago — by CNBC
The recent Houthi attacks in the Red Sea have not only caused a spike in sea freight rates, but are also expected to drive up air freight rates as global trade flows are increasingly disrupted. Delays in maritime trade may lead some retailers to switch to air freight for faster delivery, prompting an expanded role for air cargo in the supply chain ecosystem. Industry experts anticipate a surge in air freight rates in the next few weeks, particularly as the Chinese New Year holiday approaches, potentially benefiting the air cargo industry amidst international disruption.
Originally Published 2 years ago — by Reuters.com
Houthi attacks on ships in the Red Sea are causing disruptions to maritime trade, leading to fears of inflation and driving up prices of consumer goods. The recent missile strike on a Greek-owned vessel has prompted concerns about the impact on global supply chains, with companies like Michelin halting production in Spain due to delays in raw material deliveries. Major shipping companies are considering route changes, while war risk insurance premiums for Red Sea shipments are on the rise. The situation has also prompted discussions about creating a naval mission to protect ships from Houthi attacks in the Red Sea.
Originally Published 2 years ago — by Daily Mail
Swedish furniture maker Ikea has warned of potential delays and shortages of certain products due to increased attacks by Iranian-backed Houthi rebels on ships using the Suez Canal. Major shipping companies have already paused container shipments through the area, prompting Ikea to seek alternative routes for its cargo vessels. The attacks, aimed at disrupting ships bound for Israel, have led to diversions and increased costs for shipping companies, with industry analysts predicting compounded delays and higher expenses in the coming weeks. The Red Sea route is crucial for global trade, particularly for the transport of oil, grain, and consumer goods from east Asia.
Originally Published 2 years ago — by BBC.com
Analysts have warned that attacks on commercial ships in the Red Sea by Houthi rebels in Yemen could lead to higher oil and goods prices. Several firms have halted shipments through the route, prompting the US to launch an international naval operation to protect ships. The Red Sea is a crucial route for oil and liquefied natural gas shipments, as well as consumer goods. The UK, Canada, France, Bahrain, Norway, and Spain have joined the security action. Despite efforts to improve security, shipping firms are uncertain when they can resume journeys along the route, leading to rerouting and potential disruptions in the global supply chain.