Port of NEOM Offers Alternative Route for Gulf Importers As Hormuz Remains Volatile
Only a month into the Iran war, Qatar-based distributor Salam Studio & Stores had already gone weeks without its regular Red Bull shipments, prompting it to test a little-used route.The conflict and effective closure of the Strait of Hormuz, now in their fourth month, had scattered its products across ports in India and Sri Lanka, while Gulf hubs it typically relies on faced Iranian fire and capacity constraints.Wary of losing market share, Salam opted for an untested solution: shipping cargo to Doha via Saudi Arabia's Port of NEOM…
Maersk to Resume Red Sea Route
Shipping group Maersk will take steps to resume navigation through the Red Sea via the Suez Canal as soon as conditions allow, CEO Vincent Clerc said on Tuesday.The Suez Canal Authority said in a statement that Maersk container ships will resume transit via the canal on a partial basis from the beginning of December prior to a full return but a Maersk spokesperson said the company had not set a date.The potential return of Maersk to the Suez Canal could ripple through the shipping sector, where freight rates have been supported by the route being snarled by regional conflict and attacks on com
