Zencargo Market Update: 29th July 2024
Jul 29, 2024
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Jul 29, 2024
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Recent weeks have seen the ongoing attacks in the Red Sea intensifying in a wider area of effect. Mid-month saw rocket attacks against two oil tankers, as well as two separate incidents against merchant vessels. More alarming was an attack against the port of Tel Aviv itself, expanding their area of operations into the Eastern Mediterranean.
Houthi attacks have already led to a 90% reduction in Red Sea container throughput since the conflict began, according to a report by the Defence Intelligence Agency. The increased risk has driven up war-risk insurance premiums to between 0.7% and 1% of a ship’s total value, compared to less than 0.1% prior to the conflict.
Lars Jensen, CEO of Vespucci Maritime, noted that the expanded range of Houthi capabilities now poses a threat not only to the southern Red Sea but potentially to the entire waterway.
Central China to Europe:
North China to Europe:
South China to Europe:
Central China to USA:
North China to USA:
South China to USA:
Ocean
Antwerp, Belgium
Rotterdam, Netherlands
Road
European Bank Holidays
We anticipate a shortage of availability and the occurrence of delays around the bank holiday periods. Plan ahead and allow extra time for your products to be delivered.
Aug 5 – Croatia, Ireland (Eire), Spain*
Aug 15 – Austria, Belgium, Croatia, Cyprus, France, Germany*, Greece, Italy, Lithuania, Luxembourg, Malta, Poland, Portugal, Romania, Slovenia, Spain
Aug 16 – Romania*
Aug 19 – Hungary
Aug 20 – Estonia, Hungary
Aug 29 – Slovakia
September 2 – Luxembourg
September 6 – Bulgaria
September 8 – Malta, Spain
September 9 – Spain
September 11 – Spain
September 15 – Slovakia
September 17 – Spain
September 20 – Germany
September 21 – Malta
September 22 – Bulgaria
September 23 – Bulgaria
September 24 – Austria
September 27 – Belgium
September 28 – Czech Republic
*Not in all regions
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