the suez canal

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Suez Canal Authority

Greece’s Star Bulk to avoid Red Sea after attacks on its ships

Greece-headquartered Star Bulk will halt sailings through the Red Sea after Yemen's Iran-aligned Houthis attacked two of its ships in recent days, the group's CEO said.

The Houthis have targeted commercial vessels with drones and missiles in the Red Sea since mid-November in what they describe as acts of solidarity with Palestinians against Israel in the Gaza war.

IMF, World Bank warn Gaza war, Red Sea attacks imperil global economy

The IMF and World Bank warned on Monday that the Gaza war and the related attacks on shipping though the Red Sea pose threats to the global economy.

The Israel-Hamas war raging since October has already hit the Middle East and North Africa region's economy, said the International Monetary Fund's managing director Kristalina Georgieva.

Yemen Houthi leader says group will further escalate if attacks on Gaza do not stop

The leader of Yemen's Iran-aligned Houthis has said that the group will further escalate if the Israeli attack on Gaza does not stop.

The Houthis, who control Yemen's capital and most populous areas, have attacked international shipping in the Red Sea since November in what they say is solidarity with Palestinians, drawing US and British retaliatory strikes since last month.

Middle Corridor: Eurasia Optimized

Amidst the geopolitical repercussions of ongoing war in Ukraine, the Eurasian connectivity is again in focus. It does not only fall on the consideration of Arctic pathways (as a cheaper and increasingly reliable way to connect norther/Atlantic flank of Europe with the Far East and other premium production spots of Asia).

Red Sea attacks, Ukraine war disrupt global trade: UN

The U.N. trade body has sounded an alarm that global trade is being disrupted by attacks in the Red Sea, the war in Ukraine, and low water levels in the Panama Canal.

Jan Hoffmann, a trade expert at UNCTAD, warned that shipping costs have already surged and energy and food costs are being affected, raising inflation risks.

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