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Shipowners Suspend Suez Canal Transits Amid Ongoing Threats in Red Sea
Shipowners Suspend Suez Canal Transits Amid Ongoing Threats in Red Sea

Recent attacks on commercial ships transiting the Red Sea, including a missile strike on a Norwegian chemical tanker, have led major shipping companies to halt operations along the critical trade route. Container giants like MSC, Maersk, CMA CGM and several others have opted to suspend Suez Canal transits and instead sail around the Cape of Good Hope, adding significant costs and nearly 10 extra days to each journey.

Container Lines Face Gloomy Outlook
Container Lines Face Gloomy Outlook

Container carriers are struggling with vast overcapacity, putting them on course for potentially disastrous losses in 2024 and beyond.

Vietnam's exports continue to pick up
Vietnam's exports continue to pick up

As of October 2023, Vietnam's total export and import turnover is estimated to be $557.95 billion, down 9.6% year-on-year. The decline is much less than the double-digit decline in the first half of the year. After a gloomy first half, recent positive results have helped to narrow the decline in export activity.


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