Overcrowding and Delays at Asian Ports due to Red Sea Crisis
Overcrowding at Asian ports is affecting vessel schedule reliability with severe shipping delays and reduction in capacity. With the Red Sea crisis showing no signs of resolution, these delays and overcrowding are expected to continue throughout the summer. Since late last year, shipowners were forced to avoid the Suez Canal and divert to the longer […]
Global Shipping Hit by Red Sea Crisis
The Iran-backed Houthi rebel based in Yemen have disrupted shipping in the Red Sea and Suez Canal, crucial in facilitating at least 17,000 ships annually through this region. This amounts to 12% of the annual global trade which is worth about USD1 trillion.The Houthi rebel have intensified their campaign through drone and missile attacks against […]
Philippines Express Concerns Over China’s Maritime Pressure and Initiates Regional Collaboration
Philippines Express Concerns Over China’s Maritime Pressure and Initiates Regional Collaboration Philippines President Ferdinand Marcos Jr. has voiced deep concerns over China’s escalating maritime pressure, particularly in the dire situation at Spratly Islands. He pointed to China’s increasing interest in reefs near the Philippine coastline and highlighted ongoing standoffs at Second Thomas Shoal, along with […]
Chubb launches Lloyd’s lithium battery consortium
Chubb launches Lloyd’s lithium battery consortium Stock photo from Pexels Chubb has launched a new Lloyd’s of London consortium that is designed to provide insurance coverage for risks associated with the transit and storage of lithium batteries. The move seeks to address a lack of capacity in the marine cargo market for providing lithium battery […]
Ukraine Prepares to Launch Insurance System for Black Sea Shipping
Ukraine Prepares to Launch Insurance System for Black Sea Shipping Stock photo from Pexels Ukraine is on the verge of setting up its own Black Sea grain agreement, according to a top official – without waiting for Russia’s approval. Oleksandr Hryban, a special adviser to Ukraine’s economy minister, told Ukrinform this week that the government […]
Terrorist attacks more deadly in developing countries
Terrorist attacks more deadly in developing countries Stock photo from Pexels Terrorist attacks in less economically advanced countries are far more frequent and lethal than those in economically advanced countries, with the most lethal carried out by jihadist groups. Terrorist attacks in less economically advanced countries are far more frequent and lethal than those in […]
Piracy attacks on the rise
Piracy attacks on the rise Stock photo from Pexels Global piracy and armed robbery attacks against commercial shipping have increased by some 12% during the first six months of 2023, compared to the same period last year. A total of 65 incidents were recorded, up from 58 in the first half of 2022. 57 vessels […]
Supply Chain Risk
Leading the way to sustainability April marked the tenth anniversary of the Rana Plaza disaster in Bangladesh’s capital, Dhaka, when 1,134 people died as a clothing factory building collapsed. Subsequent investigations revealed that the facility was creating items for well-known high street clothing brands, Primark, Bonmarché and Canada’s Loblaw – and today, household names including […]
Food and beverages most commonly stolen commodities
Food and beverages most commonly stolen commodities Food and beverages remain the most commonly stolen commodities, according to the British Standards Institution’s latest annual Supply Chain Risk Insights Report. Thefts from hijacking have fallen as a proportion of cargo theft from 24.4% to 17.0%. These are now second to theft from facilities, which now account […]
Supply chain disruption drives up risk of cargo theft
Disruption within the global supply chain continues to drive up the risk of cargo theft. The ongoing impacts of the pandemic, variable consumer demand trends, labour disputes and the Ukraine war all continue to undermine supply chain continuity, with congestion at ports, mis-matches in the availability of transport equipment and ships in relation to demand […]
