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7 mentions found


☆ Battle for the Red Sea expands with U.S. strikes, EU stepping up its efforts against Houthis
  + stars: | 2024-02-25 | by ( Lori Ann Larocco | ) www.cnbc.com   time to read: +9 min
Defense officials tell CNBC as of February 21, there have been at least 59 attacks on commercial shipping interests in the Red Sea. But the EU said the Red Sea moves reflect the need for a stronger European presence in protecting ships from Houthi attacks. Trade leaders have urged more countries to join the military effort in the Red Sea. A war of misinformation in the Red Sea crisis also continues. On February 2 in Brussels, Borrell informed Yemeni Prime Minister Bin Mubarak about the plans to launch a new EU maritime operation in the Red Sea and about its mandate.
Persons: Mason, Torm Thor, Good Hope, Peter Stano, Josep Borrell, Mark Montgomery, Sen, John McCain, Steven Lamar, Hussein, Azzi, Stano, Houthis, Borrell, Bin Mubarak, Rashad Al, Carl Bentzel, Bentzel, Tesla Organizations: European Commission, United States Central Command, Command, U.S, CNBC, European Union's Naval Force, EU, French Navy, Prosperity, Prosperity Guardian, EU Commission, Navy, Foundation, Defense of Democracies, Senate Armed, NATO, U.S . Central Command, UK, Prosperity Guardian . Trade, American Apparel and Footwear Association, Central Command, Yemeni, Presidential, Council, UN, Federal Maritime, Foreign Shipping, State Department, FMC, Walmart Locations: Aden, Iranian, Yemen, Red, Libyan Coast, Good, Somalia, European, EU, U.S, Australia, Bahrain, Canada, Denmark, Netherlands, New Zealand, Houthi, Europe, Suez, Belize, Brussels, Yemeni, United States, Egypt, Germany, Israel
☆ U.S. and British strikes on Houthi sites in Yemen answer militants’ surge in Red Sea attacks on ships
  + stars: | 2024-02-24 | by ( ) www.cnbc.com   time to read: +8 min
The U.S. F/A-18 fighter jets launched from the USS Dwight D. Eisenhower aircraft carrier, which is currently in the Red Sea, officials said. President Joe Biden and other senior leaders have repeatedly warned that the U.S. won't tolerate the Houthi attacks against commercial shipping. During normal operations, about 400 commercial vessels transit the southern Red Sea at any given time. The Rubymar, a British-registered, Lebanese-operated cargo vessel, was attacked while sailing through the Bab el-Mandeb Strait that connects the Red Sea and the Gulf of Aden. The Associated Press, relying on satellite images from Planet Labs PBC of the stricken vessel, reported Tuesday that the vessel was leaking oil in the Red Sea.
Persons: Dwight D, Lloyd Austin, Grant Shapps, Shapps, Joe Biden, haven't, We've, Sabrina Singh, we've, Mason, Abdul Malik al, Hope Organizations: US Coast Guard, US Central Command, U.S, Eisenhower, Defense, Yemeni Armed Forces, RAF, Islander, Hamas, Houthi, Aden , U.S . Central Command, Central Command, Khorfakkan, United, Command, Associated Press, Planet Labs PBC Locations: Iran, Yemen, Tampa , Florida, United States, U.S, Gulf of Aden, British, Red, Britain, Australia, Bahrain, Canada, Denmark, Netherlands, New Zealand, Gaza, Aden , U.S, Asia, Europe, Africa, Suez, Mandeb, Gulf, Aden, Palau, Belize, Lebanese, Bulgaria, United Arab Emirates
☆ Fears of prolonged Red Sea shipping crisis fuel inflation fears, as oil, retail cargo delays rise
  + stars: | 2024-01-17 | by ( Lori Ann Larocco | ) www.cnbc.com   time to read: +8 min
"If so, we expect the soaring freight rates and equipment shortage will continue till the third quarter," it advised clients. This would be on top of the revenue lost by diverted container vessels which are required to pay between $500,000-$600,000 per transit. "However, given the longer transit times vessels are experiencing, the market may face a shortage of empties across Asia until sailings normalize." Evelyn Fornes, Home Depot spokeswoman, said it is working with logistics carriers to find alternate routes to limit any impact from the Red Sea conflict. East Coast freight rates soar While freight rates for U.S. West Coast ports have yet to spike, freight rates for the East Coast and Gulf are up.
Persons: Folden, Shell, Jean, Charles Gordon, Nyttingnes, Torm, Euronav, Tom, Hafnia, Andy Lipow, Kuehn, Nagel, Ami Daniel, Goetz Alebrand, Stephen Schwarz, Paolo Montrone, Kuehn + Nagel, Alan Baer, Baer, Evelyn Fornes, Fornes, Lane Organizations: Galaxy, Houthis Media, Getty Images, Anadolu, Getty, U.S, Clarksons Securities, Honour Lane Shipping, Wall Street, Shell, Suez, Authority, Lipow Oil Associates, Logistics, CNBC, DHL Global, Asia Pacific, Kuehn, USA, Home, Costco, Walmart, Home Depot, Volvo, Michelin, Ikea, East, U.S . Locations: Iran, Yemen, Anadolu, Hafnia, Ardmore, Suez, Israel, Americas, Asia, Europe, Wells Fargo, Red, U.S, East Coast, U.S . West Coast, Gulf, East, West, West Coast
☆ Tanker companies temporarily halt traffic toward Red Sea after U.S. airstrikes on Houthi militants
  + stars: | 2024-01-12 | by ( Spencer Kimball | ) www.cnbc.com   time to read: +1 min
An Egyptian man sits and eats ice cream as he watches international cargo and tanker ships pass through the Suez canalSeveral of the world's major tanker companies on Friday halted traffic toward the Red Sea after U.S. and British airstrikes on Iran-allied Houthi militants in Yemen. The companies are among the world's largest operators of tankers for petroleum products such as gasoline, according to their websites. The multinational coalition advised ships to avoid transiting the Bab el-Mandeb Strait for "several days," according to a statement from the International Association of Independent Tanker Owners. The Bab el-Mandeb Strait connects the Gulf of Aden with the Red Sea. Some 7 million barrels of crude oil and products transit the Red Sea daily, according the trade analytics firm Kpler.
Persons: Sheena Williamson, Holt, Bab Organizations: Stena Bulk, Combined Maritime Forces, U.S, CNBC, International Association of Independent Tanker Locations: Suez, Iran, Yemen, Torm, Mandeb, Aden
☆ Lightning Round: Cameco is the highest quality uranium play, says Jim Cramer
  + stars: | 2023-11-15 | by ( Jim Cramer | ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Cameco is the highest quality uranium play, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stock including: Cameco, H&R Block, Driven Brands, Albertsons, Torm and Roblox.
Persons: Jim Cramer Organizations: Brands, Albertsons, Torm
☆ Mexico's Pemex resumes trading with Vitol, three years after graft scandal
  + stars: | 2023-09-19 | by ( Stefanie Eschenbacher Dmitry Zhdannikov Ana Isabel Martinez | Stefanie Eschenbacher | Dmitry Zhdannikov | ) www.reuters.com   time to read: +4 min
[1/2] The logo of Petroleos Mexicanos (Pemex) is pictured at the company's headquarters in Mexico City, Mexico July 26, 2023. A third senior trading source confirmed that Vitol had resumed business with Mexico. Neither the deals nor the fact that Mexico resumed trading with Vitol have previously been reported. Vitol declined to comment while Pemex and the Mexican government did not respond to requests for comment. Eventually, Pemex officials pulled the plug on contract negotiations after Vitol officials refused their proposed changes to terms.
Persons: Raquel Cunha, Pemex, cargos, Vitol, Arvin, Andres Manuel Lopez Obrador, Octavio Romero, Pemex's Romero, Javier Aguilar, Aguilar, Stefanie Eschenbacher, Ana Isabel Martinez, Dmitry Zhdannikov, Luc Cohen, Marianna Parraga, Florence Tan, Stephen Eisenhammer, Marguerita Choy Organizations: REUTERS, Reuters, U.S . Department of Justice, Thames, Thomson Locations: Mexico City, Mexico, MEXICO, Swiss, Brazil, Ecuador, Liberia, Houston, Pajaritos, Denmark, Tuxpan, Tampico, America, Geneva, U.S, Brooklyn, London, New York, Singapore
☆ Cramer's lightning round: Costamare is not a buy
  + stars: | 2023-01-13 | by ( Krystal Hur | ) www.cnbc.com   time to read: 1 min
Loading chart...Costamare Inc : "I don't like [the] container ship business. I'm not going to say, buy that." Loading chart...Lamar Advertising Co : "They are in a business that is in a serious recession right now. So, I am going to have to say no to that." Loading chart...Taiwan Semiconductor Manufacturing Co Ltd : "Taiwan Semi is just a very, very good company.
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