The current earnings reporting season indicates the impact on supply chains may not be as significant as initially feared

The EU announced February 19 that it plans to begin its own naval missions to protect shippers passing through the Red Sea.

January also marked the sixth straight month of year-over-year gains for the Port of Los Angeles, surpassing January 2023’s totals by 18%.

Maersk said that it has added about 6% more vessel capacity to its schedule to keep the flow of trade moving, further adding to the company’s operational costs.

An industry expert from a Californian freight forwarding company said they anticipate organizations will have to deal with equipment shortages due to vessels being rerouted away from the Red Sea.

Dimerco said that ocean shippers in the APAC region should anticipate rates to increase for vessels going to the U.S. and Europe.

The British Retail Consortium said that it had noticed a “temporary disruption” to some black tea lines, while an industry source suggested that some flavored lines had been delayed.

The carriers, each with a capacity of 45.96 million gallons, will be wholly owned by Nakilat and chartered out to affiliates of QatarEnergy.

Balbir Singh Dhillon, the head of Audi India, said that the Red Sea situation is impacting the German carmaker’s deliveries to customers in India.

Military ships in the region have been attempting to thwart missile strikes on merchant vessels over the past few weeks, but the Houthis have continued their attacks.