Red Sea

On Thursday, Guess? Inc. (NYSE:GES) reported a 15% increase in its inventory, driven by ongoing supply chain disruptions and plans to streamline its stock once these issues subside. What Happened: During the company's first-quarter earnings, the retailer explained that the inventory buildup, which...

Yemen’s Houthi rebels have reportedly attacked two crude oil tankers in the Red Sea, as confirmed by the U.S. military. What Happened: The Houthi rebels, who are backed by Iran, targeted the Saudi-flagged “Amjad” and the Panama-flagged “Blue Lagoon I.” The U.S....

A. P. Moller Maersk (OTC:AMKBY), the world’s largest container shipping company, has announced that the ongoing disruptions in the Red Sea will significantly impact the industry’s capacity in the second quarter. What Happened: The disruptions, caused by attacks from Iran-aligned Houthi...

In a decisive move to secure critical maritime routes, the U.S. military has launched strikes against Houthi air defense systems in Yemen, targeting their drone capabilities and safeguarding the Red Sea’s shipping lanes. What Happened: The U.S. military has neutralized key components of the...

The U.S. military has confirmed the destruction of two drones in Houthi-controlled areas of Yemen and over the Red Sea, citing a potential threat to American and coalition forces. What Happened: The U.S. Central Command stated on Sunday that the drones were destroyed on Saturday morning, reported...

Three people were reportedly killed and several others injured after an anti-ship ballistic missile launched by Iran-backed Houthi rebels in Yemen struck bulk carrier M/V True Confidence in the Gulf of Aden late on Wednesday. The crew abandoned the Barbados-flagged, Liberia-owned vessel following...

In a recent incident, a U.S. Navy destroyer successfully intercepted drones and a missile launched by Yemen’s Houthi rebels in the Red Sea, while Iran has announced plans to seize a $50 million cargo of Kuwaiti crude oil destined for an American energy firm. What Happened: The U.S. Navy...

Yemen’s Houthi rebels have issued a warning to Israel, stating that they will only reconsider their missile and drone attacks on international shipping in the Red Sea if Israel ceases its “aggression” in the Gaza Strip. What Happened: The Houthi rebels, who control major parts of...

Markets have been so obsessed for the past six months on when the Federal Reserve will make its first cut in interest rates, no-one has even considered thinking the unthinkable: what if it doesn’t cut at all in 2024? Until around a month ago, you could still take odds at around 3/1 that the...

On Monday, the U.S. Central Command (CENTCOM) disclosed that Yemen’s Houthi movement attempted to strike an American oil tanker in the Gulf of Aden with a ballistic missile, but the attempt failed. What Happened: The missile, likely aimed at the MV Torm Thor, missed the U.S.-flagged, owned,...

The U.S. Central Command has reported an “environmental disaster” in the Red Sea following a missile attack by Houthi militants on a ship carrying fertilizer. What Happened: The U.S. Central Command has declared an “environmental disaster” in the Red Sea due to a missile...

The sheer volume of packages from these fast-fashion giants has led to increased air freight costs from key Asian hubs, creating capacity shortages and eliminating traditional off-peak seasons. What Happened: According to Reuters, e-commerce giants like Shein and Temu — owned by PDD Holdings Inc (...

In a recent interview, a top U.S. Navy admiral revealed that the ongoing conflict with Houthi rebels in the Red Sea is the most extensive naval battle the U.S. has faced since World War II. What Happened: Vice Adm. Brad Cooper, the deputy commander of the U.S. Central Command, disclosed during CBS...

The United States Department of Defense (DoD) has reported the first-ever sighting and neutralization of an underwater drone deployed by Houthi fighters in the Red Sea. What Happened: The DoD, through its central command (CENTCOM), disclosed that U.S. forces in the Red Sea identified and targeted...

The impact of shipping disruptions hasn’t yet been felt in global commodity markets, but the companies that are carrying freight around longer routes are certainly feeling the pain. What Happened: Shares in Danish shipping giant Moller Maersk (OTC:AMKBY) were down 15.5% in morning trade in...