Europe Looking Towards Air Freight Solutions Due To Continuing Attacks in Red Sea 

As Houthi terrorists continue to attack in the Red Sea, shipping and logistics companies also continue to provide updates on what the developments mean for cargo.

U.S. Central Command confirmed on March 12 that between 2 a.m. and 4:30 a.m. Sanaa time, Iranian-backed Houthi terrorists “fired one close-range ballistic missile from Houthi-controlled areas of Yemen toward USS Laboon in the Red Sea.” The U.S. government agency revealed that the missile did not impact the vessel, and that there...

Maersk Says All Vessels Due to Transit the Red Sea Will Be Diverted For ‘Foreseeable Future’

Despite warnings from the U.S. and other countries to cease attacks, the Houthi rebels show no signs of stopping. Shipping company Maersk says that as the situation continues to evolve and “remains highly volatile,” they have made the decision to divert all Maersk vessels that are due to transit the Red Sea/ Gulf of Aden for “the foreseeable future.” Vessels that were due to travel through the Red Sea will continue to be diverted south around the Cape of Good Hope.

“We understand...

Oil Up 2% Ahead of Fed Meet as Middle East Conflict Rages 

Oil prices rose more than 2% on Wednesday ahead of the keenly watched meeting of the U.S. central bank for clues on interest rate policy, while the conflict in the Middle East remains in focus.

Brent January crude futures were up about 2.5%, or $2.08, to $87.10 a barrel by 1316 GMT. U.S. West Texas Intermediate crude futures gained roughly 2.8%, or $2.24, to $83.26 a barrel.

The Fed, which will end its meeting on Wednesday, is widely expected to hold rates steady...