, with the company expecting shipping delays as vessels take the long way around the Cape of Good Hope instead of through the dangerous waters of the Red Sea. “Be prepared for the Red Sea situation to last into the second half of the year and build longer transit times into your supply chain planning, Maersk’s head of North America, Charles van der Steene, said in a Tuesday statement carried by Reuters.
“While global crude balances are getting longer seasonally in February and March, increased levels of Red Sea shipping diversions are keeping the market tight – as more oil is put on ships, leaving less available on land,” analysts at consultancy FGE wrote in a note on Friday. As much as 1.6 million barrels of crude oil per day are now being forced to take the long way around in order to avoid the Red Sea.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WTI Pops as Red Sea Shipping Echoes in Slumping European Diesel SupplyU.S. benchmark WTI oil prices gained over 2% on Monday amid the ongoing Red Sea shipping threat and European diesel demand before retracing some of those gains as Wall Street tried to digest inflation data.
Source: OilandEnergy - 🏆 34. / 68 Read more »
Underwater cables in Red Sea damaged months after Houthis threatened to do just thatYemeni rebels thought to lack the ability to damage submarine cables, but here we are
Source: TheRegister - 🏆 67. / 61 Read more »
“Contagious smile”: Tributes continue for popular Lincoln manLincoln and Greater Lincolnshire news
Source: thelincolnite - 🏆 121. / 51 Read more »
Bristol police continue to question woman over deaths of three childrenA 42-year-old has been arrested on suspicion of murder following the deaths in Bristol.
Source: bbcemt - 🏆 120. / 51 Read more »
First pictures of the Bristol children found dead in Sea Mills emergeThe 42-year-old is being held in custody following the tragic discovery in Bristol during the early hours of this morning (Sunday). Police said they had attended a concern welfare call at the property on Blaise Walk, in the Sea Mills district of the city, at around 12.40am.
Source: MetroUK - 🏆 13. / 82 Read more »
Chilly and breezy conditions to continue through Sunday in New EnglandCold and breezy conditions persisting through Sunday and into Monday morning. This morning, teens and low 20s for temperatures. When you factor in the wind…
Source: NECN - 🏆 20. / 71 Read more »