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CNN CNN This Morning June 4, 2024 11:39:00

20% of more in red sea activity. that s according to lloyd s list. it marks the start of a potentially cascading effect, which the world bank outlined in a report this week. this is important to note warning in that report that energy supplies could be disrupted leading to spikes in applies that could turn over to other commodities that would heighten global tensions and at an inflation high moment, economic uncertainty. in the month before the u.s.-led strikes that happened last night, the volume of containers transported through the red sea plummeted. that s not an error. that s the line. by more than half. almost at 70% of the usual volume expected is where how much it has dropped. that has led to a dramatic increase in the cost to ship goods. look at the spike right here. you see the spike to ship a 40 foot container. that sounds a little bit in the weeds here. however, that is critical. explain why in a second. it has more than doubled since november. it s true, economic officials ....

Red Sea , Energy Supplies , Lloyd S List , World Bank , U S ,

BBCNEWS World Business Report June 4, 2024 14:37:00

Trades. that could be very disrutive. ., disruptive. richard meade from llo d s disruptive. richard meade from lloyd s list- disruptive. richard meade from lloyd s list. thank disruptive. richard meade from lloyd s list. thank you - disruptive. richard meade from lloyd s list. thank you for - disruptive. richard meade from lloyd s list. thank you for that. j what s happening to the price of oil? it s been going up. let s not forget the importance of the gulf countries as oil suppliers. erin delmore is in new york for us. up up by as much as 4% at one point today. it is fair to say it does not look like panic stations, although panic stations on the oil markets just yet. panic stations on the oil markets ust et. , , . ., just yet. yes, exactly. we are lookin: just yet. yes, exactly. we are looking to just yet. yes, exactly. we are looking to 496 just yet. yes, exactly. we are looking to 4%jump just yet. yes, exactly. we are looking to 4%jump in - just yet. yes, exactly. we ar ....

Richard Meade , Lloyd S List , Oil Suppliers , Thank You Disruptive , What S Happening , Erin Delmore , Thank Disruptive , Llo D , New York , Panic Stations , Oil Markets , Just Et , Oil Prices , Brent Crude , Red Sea ,

BBCNEWS World Business Report June 4, 2024 14:34:00

..to percolate all the way down to the end consumer, which in these times of inflation is really something that we need to try to avoid. those are the abuse of maersk his vessels have come under attack in the red sea attacks. live now to richard meade, editor in chief at lloyd s list, one of the world s oldest maritime journals. thank you forjoining us. the risk with these attacks are air strikes, i should say, against the houthi latin s as it opens another front in the world is already being fought in the world is already being fought in the middle east but do you think it is going to work? it but do you think it is going to work? , ., ., ., ., but do you think it is going to work? , ., ., . ., work? it is too hard to tell. what we have seen work? it is too hard to tell. what we have seen in work? it is too hard to tell. what we have seen in the work? it is too hard to tell. what we have seen in the wake - work? it is too hard to tell. what we have seen in the wake of- work? ....

Red Sea , Air Strikes , Richard Meade , Lloyd S List , Editor In Chief , Middle East , Latin S , Container Ships , Danger Zone ,

BBCNEWS World Business Report June 4, 2024 05:37:00

February the second for the remainder of them. we will talk about it again remainder of them. we will talk about it again in remainder of them. we will talk about it again in the remainder of them. we will talk about it again in the future. - about it again in the future. thank you for now. now lets bring you up to date on what s happening in the red sea. ships across the world are switching away from the shorter trade route via the suez canal after iranian backed houthi militants in yemen stepped up attacks on vessels to show their support for hamas. on friday the container shipping giant, maersk, said it was diverting all vessels from red sea routes around africa s cape of good hope for the foreseeable future, warning customers to prepare for significant disruption. as we ve been reporting for several weeks now the crisis is having a significant impact on the cost of shipping goods, with the price of insurance rising substantially for ships transiting through the area. live now ....

Suez Canal , Houthi Militants , In The Red Sea , Shorter Trade Route , South Africa , Red Sea , Container Shipping Giant , Cape Of Good Hope , Editor In Chief , Richard Meade , Lloyd S List ,

BBCNEWS World Business Report June 4, 2024 14:31:00

It happened late on tuesday and is the latest in a series of attacks which are prompting major shipping lines to take alternative, longer routes. the international chamber of shipping says that one in five commercial vessels and ships are now avoiding the red sea, which accounts for 12% of global trade. it s led to a near doubling in the cost of container shipping. the attackers say they ll continue to target vessels until palestinians in gaza are allowed sufficient food and medicine. michelle bockmann is principal analyst at the maritime analysts lloyd s list intelligence. thank you for being with us today, michelle. there have been multiple efforts to try and neutralise the threat from these houthi rebels to ships in the area. these latest attacks suggest they are failing. ....

Red Sea , International Chamber Of Shipping , Shipping Lines , Container Shipping , Global Trade , Michelle Bockmann , Lloyd S List ,