Lt. Col. Darin Gaub, a retired U.S. Army Black Hawk helicopter pilot, says the only hope for de-escalating conflicts in the Middle East is for Israel to remain on the defensive.
DHL CEO Tobias Meyer said on Wednesday that the continued disruption of global trade due to Houthi rebel attacks in the Red Sea could lead to a shortage of shipping containers in Asia in the coming weeks. I warned you that there is.
Meyer said during a panel discussion in Davos that such shortages could occur because not enough containers may be shipped back to Asia.
DHL Group CEO Tobias Meyer speaks in an interview in Hong Kong on November 14, 2023. (Paul Yang/Bloomberg via Getty Images)
“We have to keep an eye on it,” he said, but added that the current disruptions are nothing compared to the supply chain difficulties three or four years ago when the coronavirus pandemic began.
Chevron CEO says Houthi attack in Red Sea poses 'very real' risk to oil flows and prices
In an update on the Red Sea situation posted on DHL's website last week, the company said that “for the time being, there will be no significant “Transportation costs are rising on trade routes.” Delivery takes approximately 2 weeks as we ship around the Cape of Good Hope in Africa.
March 14, 2006 at the headquarters of DHL, the world's largest global shipping company, in Bonn, Germany. (Ralph Orlowski/Getty Images)
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| DHLGY | Deutsche Post | 47.41 | -0.76 | -1.58% |
”[E]”Equipment issues are beginning to emerge and are expected to worsen,” DHL warned on its website, adding: “This is due to vessels not returning to Asia as scheduled and resulting in “This will result in a lack of available equipment for future shipments.”
Shell indefinitely suspends all Red Sea shipments amid Houthi attack from Yemen: report
From November, Iranian-backed Houthi rebels In Yemen, it fired dozens of missiles and drones at merchant ships around the Red Sea. They claim to avenge Israel's counterattack against Hamas terrorists in Gaza for the October 7 attack. Houthi attacks have become increasingly indiscriminate, putting tankers and container ships carrying sanctioned Russian oil at risk.
This photo released on November 20, 2023 shows Houthi fighters standing on the Galaxy Leader cargo ship in the Red Sea. (Houthi military media/handout/Reuters photo)
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The Houthi attack prompted a U.S. military response, with President Biden ordering airstrikes on military targets in Yemen. The Biden administration is currently considering whether to reverse a 2021 decision to lift the Foreign Terrorist Organization (FTO) designation the Trump administration placed on the Houthis.
FOX Business' Chris Pandolfo and Reuters contributed to this report.
