Despite the diversions, lots of tankers — many hauling Russian oil — continue to ferry barrels through the waterway. 

The awards, announced January 25, will make considerable investments in intermodal freight infrastructure.

Farmers have been choking roadways across the country to protest higher production costs, stringent regulations imposed from Brussels and what they call unfair competition from abroad.

The service commenced operations January 21 from Cai Mep, Vietnam with a rotation that goes to Yantian, Kaohsiung, Xiamen, Ningbo, Shanghai, Vancouver, Pusan and then back to Cai Mep.

Mohamed El-Erian, the former CEO of the investment management firm PIMCO, warned that shipment disruptions caused by Houthi attacks could cause shipping costs to increase while hindering global economic growth.

The Port of Los Angeles ended up handling roughly 8.6 million TEUs in 2023, a 13% drop off when compared to 2022.

The new offering, consisting of nine vessels, will provide the Georgia Ports Authority with access to ten services via the Suez Canal, including nine routes to the Indian subcontinent.

Since the Houthi attacks began, an estimated 181 vessels have been rerouted around Africa, while another 26 ships are opting to drift

Some potential targets of the coalition's attacks could include launchers for anti-ship missiles and drones, as well as storage facilities for ammunition.

The company said that its vessel, the Maersk Hangzhou, was targeted by Houthis in attack boats December 31.