[ LONDON: Shipping disruptions in the Red Sea are negative for gross margins, Adidas CEO Bjorn Gulden said on Thursday in a call with analysts, adding that “exploding” freight rates are driving up costs and shipping delays are causing some delivery issues. “Currently the spot rates are exploding again,” Gulden said. “We have contracts that … Read more
[ Delays to global trade caused by hundreds of ships diverting around Africa to avoid attacks in the Red Sea are set to inflict months of disruption and imminent price rises on supplies of household items and foodstuffs, trade experts have warned. Figures show that an armada of some 350 ships – more than half … Read more
[ The confrontation between Western powers and Houthi rebels in the Red Sea could trigger a new crisis in the Suez Canal, which plays a crucial role in the Egyptian and global economy. Egypt generates substantial revenue from the operation of the Suez Canal, which opened for navigation in 1869 and serves as a vital … Read more
