longerjourney around rerouting to take the much longer journey around the southern tip of africa. appliance company electrolux is also setting up a taskforce to find alternate routes while ikea is warning of potential product shortages. rain peterson from the supply chain management company flexible told me more about how the disruption is already impacting businesses. it’s disruption is already impacting businesses. businesses. it s ust getting started. 0ver businesses. it sjust getting started. over the businesses. it sjust getting started. over the weekend | businesses. it sjust getting i started. over the weekend and through today we have had all ten of the top container shipping lanes in the world, representing about 95% capacity, have begun to divert vessels to avoid sailing through the red sea and to go around the tip of africa, as you said. it takes about 25% longer to go that way from asia to europe and, well, 25% reduction in supply of shipping, we re going t
warm welcome to our viewers all around the world. bianca is off. but just ahead on cnn newsroom the colorado supreme court found that former president trump should be disqualified from being on the ballot in that state. we ve never had a president inside an insurrection and then tried to run for the presidency again. thousands of migrants in eagle pass, texas waiting to be transported for immigration processing. congress has not been able to come together and do comprehensive immigration reform which would help prevent a lot of the scenes that you see at the u.s./mexico border. live from london, this is cnn newsroom with max foster and bianca nobilo. it is wednesday, december 20, 9:00 a.m. in london, 2:00 a.m. in denver, colorado where the state supreme court has delivered a stunning decision disqualifying donald trump from the 2024 presidential ballot. justices ruled trump is not eligible to be a candidate because of his role in the 2021 insurrection. his c
hi there. thank you for being with us. we begin with a developing story in the united states. the colorado supreme court has disqualified trump from the ballot in the state s presidential election next year. it its ruling the court says it is because of his role in the capitol attack in january 2020 one foot his campaign immediately denounced the ruling is undemocratic and said they would appeal to the us supreme court. let s bring in north america correspond to peter bowes who joins us life. peter bowes who joins us life. peter connelly ruling applies only to the state s republican primary. so what does this decision mean? primary. so what does this decision mean? well, this, as ou decision mean? well, this, as you say. decision mean? well, this, as you say. applies decision mean? well, this, as you say, applies only - decision mean? well, this, as you say, applies only to - decision mean? well, this, as you say, applies only to the l you say, applies only to the republ
the southern tip of africa. appliance company electrolux is also setting up a taskforce to find alternate routes, while ikea is warning of potential product shortages. ryan petersen from the supply chain management company flexport told me more about how the disruption is already impacting businesses. it s just getting started. over the weekend and through today we have had all ten of the top container shipping lines in the world, representing about 95% capacity, have begun to divert vessels to avoid sailing through the red sea and to go around the tip of africa, as you said. it takes about 25% longer to go that way from asia to europe and, well, 25% reduction in supply of shipping, we re going to see huge delays, obviously, but also big price increases because, well, it s a supply and demand and if the supply comes down 25%, one thing we have learned in the last few years is a small destruction and supply can lead to a huge swing in price. are small disruption in supply c
but will it last? rebecca babin is a senior energy trader at cibc private wealth. she gave me her predictions. i think the concern right now is really concentrated on the longer shipping time. the market is not pricing in that we actually lose barrels from the market as a result of what is happening in the suez canal. what it is concerned with right now and the reason it has risen 6% is because the shipping costs associated with travelling around the southern tip of africa to reach its destination adds around 15 days of travel time. it increases freight costs. and it has increased insurance costs. that is what the markets are pricing in and looking at at this point. the market has not entered a panic mode, as we have seen in the past with other geopolitical events, where it starts to pricing supply is lost from the market. right now it is a logistical rerouting, what we re seeing, and not kind of that panic and fear that we re going to lose barrels. that obviously can change