Container ships are unlikely to resume transits via the Suez Canal for at least the first six months of 2024, as major carriers will only return to the key trade waterway when the risk of attacks on commercial vessels has subsided, according to maritime consultancy Drewry.
Carriers appear to be working on resuming journeys through the Suez Canal within this year, though the duration of the Red Sea shipping crisis is difficult to predict, the London-based consultancy said, citing polls and discussions with its clients.
“The consensus view is that it will be within months, rather than the full-year, and certainly not within weeks,” Simon Heaney, senior manager at Drewry's container research unit, said in a webinar on Tuesday.
Many vessels are avoiding the Red Sea route because of attacks by Houthi rebel groups on merchant shipping, opting instead to sail the longer route around South Africa’s Cape of Good Hope.
The number of container ship transits through the Suez Canal in the first three weeks of 2024 is down 74 per cent year-on-year, according to Drewry data. Meanwhile, the Cape of Good Hope transits have jumped 218 per cent during the period.
Spot rates for transporting a 40ft container from Asia to Europe through the Suez Canal have surged more than 300 per cent since the attacks began in November, according to Drewry. Carriers are implementing surcharges of $500 to $2,500 per container to reroute ships, the consultancy said.
Diverting via the Cape of Good is creating supply chain problems and delays for shippers.
Estimated transit times from Asia to key destinations in Northern Europe are up 32 per cent to 40 days, compared to the shorter transit time via the Suez Canal, according to Drewry.
In the next five weeks, on the Asia to North Europe trade route, there will be 34 cancelled sailings out of 145 scheduled trips, Philip Damas, managing director of the Drewry Group, said.
However, there are already indications that the elevated spot rates from Asia to Europe are softening, Mr Damas added.
If the Suez Canal diversions end by second quarter of this year, then the average east-west shipping rates could decline by more than 10 per cent in 2024 compared to 2023, he said.
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
Going grey? A stylist's advice
If you’re going to go grey, a great style, well-cared for hair (in a sleek, classy style, like a bob), and a young spirit and attitude go a long way, says Maria Dowling, founder of the Maria Dowling Salon in Dubai.
It’s easier to go grey from a lighter colour, so you may want to do that first. And this is the time to try a shorter style, she advises. Then a stylist can introduce highlights, start lightening up the roots, and let it fade out. Once it’s entirely grey, a purple shampoo will prevent yellowing.
“Get professional help – there’s no other way to go around it,” she says. “And don’t just let it grow out because that looks really bad. Put effort into it: properly condition, straighten, get regular trims, make sure it’s glossy.”
COMPANY%20PROFILE
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SPECS
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Dark Souls: Remastered
Developer: From Software (remaster by QLOC)
Publisher: Namco Bandai
Price: Dh199
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More from Rashmee Roshan Lall
LA LIGA FIXTURES
Thursday (All UAE kick-off times)
Sevilla v Real Betis (midnight)
Friday
Granada v Real Betis (9.30pm)
Valencia v Levante (midnight)
Saturday
Espanyol v Alaves (4pm)
Celta Vigo v Villarreal (7pm)
Leganes v Real Valladolid (9.30pm)
Mallorca v Barcelona (midnight)
Sunday
Atletic Bilbao v Atletico Madrid (4pm)
Real Madrid v Eibar (9.30pm)
Real Sociedad v Osasuna (midnight)
Expo details
Expo 2020 Dubai will be the first World Expo to be held in the Middle East, Africa and South Asia
The world fair will run for six months from October 20, 2020 to April 10, 2021.
It is expected to attract 25 million visits
Some 70 per cent visitors are projected to come from outside the UAE, the largest proportion of international visitors in the 167-year history of World Expos.
More than 30,000 volunteers are required for Expo 2020
The site covers a total of 4.38 sqkm, including a 2 sqkm gated area
It is located adjacent to Al Maktoum International Airport in Dubai South
T20 WORLD CUP QUALIFIER
Results
UAE beat Nigeria by five wickets
Hong Kong beat Canada by 32 runs
Friday fixtures
10am, Tolerance Oval, Abu Dhabi – Ireland v Jersey
7.30pm, Zayed Cricket Stadium, Abu Dhabi – Canada v Oman
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
APPLE IPAD MINI (A17 PRO)
Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits
Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine
Storage: 128/256/512GB
Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4
Front camera: 12MP ultra-wide, f/2.4, Smart HDR 4, full-HD @ 25/30/60fps
Biometrics: Touch ID, Face ID
Colours: Blue, purple, space grey, starlight
In the box: iPad mini, USB-C cable, 20W USB-C power adapter
Price: From Dh2,099
If you go
The Flights
Emirates and Etihad fly direct to Johannesburg from Dubai and Abu Dhabi respectively. Economy return tickets cost from Dh2,650, including taxes.
The trip
Worldwide Motorhoming Holidays (worldwidemotorhomingholidays.co.uk) operates fly-drive motorhome holidays in eight destinations, including South Africa. Its 14-day Kruger and the Battlefields itinerary starts from Dh17,500, including campgrounds, excursions, unit hire and flights. Bobo Campers has a range of RVs for hire, including the 4-berth Discoverer 4 from Dh600 per day.
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Company%20profile
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