The Panama Canal Authority has increased daily transits by adding three extra slots per day at its panamax locks due to solid amounts of rain, raising the total to 27. This is a positive shift from the record drought since June the previous year. Additionally, two more slots will be auctioned for transit dates starting March 18, and one more slot will be available for transit dates beginning March 25. Despite this improvement, the canal is still far from its normal maximum of 40 vessels per day, and the maximum draft at larger locks has been reduced by nearly 2 meters. Currently, there are 54 ships waiting to transit the canal, down from over 160 in August. Many ships have avoided the canal in recent months due to long queues and high toll fees.

The Suez Canal Authority (SCA) Chairman Osama Rabie discussed the "Green Canal 2030" strategy at the MARLOG 13 conference, emphasizing a 55 million ton reduction in carbon emissions and a 17 million ton decrease in fuel consumption in 2023. Initiatives include promoting clean energy and collaborating with Greek Antipollution for waste collection from passing ships. Development projects aim to enhance navigation safety, including a 28% improvement in the southern sector, and the construction of three marinas. Rabie addressed rising freight prices due to Red Sea tensions, reaching $6,800 per container, as compared to $750 before the crisis.

The sinking of the UK-owned cargo ship Rubymar by Houthi militants in the Red Sea, carrying hazardous fertilizer, posing risks to marine life and navigation. The US military previously said the attack had significantly damaged the bulk vessel and caused an 18-mile (29-km) oil slick. The ship was carrying about 21,000 metric tons of fertiliser, CENTCOM said on Saturday. The release of fertilizer threatens the Red Sea's ecosystem, with concerns raised by experts about eutrophication and potential environmental damage. Additionally, incidents such as attacks on ships and disruption of communication cables further escalate tensions in the region.

The Port of Rotterdam reported a throughput of 438.8 million tonnes, a decrease from 467.4 million tonnes in 2022, with coal, dry bulk, and containers experiencing the most significant volume losses. Dry bulk, led by a 20.3% decrease in coal, saw an 11.8% overall drop. However, agribulk increased by 3.0%, and crude oil throughput rose by 9.9%. Liquid bulk saw a 3.4% decrease, primarily due to a 6.5% decline in mineral oil products. Despite a 6.8% decrease in container throughput to 130.1 million tonnes, port revenues increased by 1.9% to €841.5 million. The port emphasized investment in projects like the CO2 transport and storage project, Porthos, and the national hydrogen network.

Due to attacks by Iranian-backed Houthi rebels in the Red Sea, over 100 container ships have been rerouted around Africa instead of using the Suez Canal, resulting in a significant increase in CO₂ emissions. Analysis shows emissions rising by 31% to 66% for journeys from Asia to Europe, with an estimated 260% to 354% increase in emissions overall. This spike jeopardizes global efforts to reduce shipping emissions by at least 20% by 2030. Additionally, the EU's Emissions Trading System will further increase costs for shipping companies, exacerbating the situation.

GoComet CEO Gautam Prem Jain discussed critical supply chain indicators like port throughputs and carrier performance in a CNBC interview, highlighting the ongoing disruptions from the Red Sea crisis. Challenges persist in meeting customer timelines, emphasizing the need for innovative solutions. He stressed on the importance of businesses staying informed about on-ground situations and leveraging data-led insights for resilient decision-making. Insights from Gautam suggest strategic pivots in supply chain routes and consideration of diverse coastal options, with Long Beach emerging as a dependable port amid disruptions.

The ongoing Red Sea crisis is impacting Audi India's automotive supply chain, leading to delays in deliveries to Indian customers. Balbir Singh Dhillon, Audi India's head, expressed optimism that the situation would improve in the coming months, although challenges may persist through the current quarter ending March 2024. Dhillon highlighted Audi's focus on electrifying its vehicles, considering the possibility of assembling EVs in India to offer more affordable options, as EVs currently constitute about 7% of India's luxury car market.

Iran-backed Houthis in Yemen launched six ballistic missiles at ships in the Red Sea and Gulf of Aden, damaging a Greek-owned bulk carrier with three projectiles. Another British-owned cargo ship was targeted earlier. The USS Laboon intercepted and destroyed a third missile. The US and UK had recently conducted joint airstrikes on Houthi bases in Yemen. The US, after mistakenly claiming to have notified Iraq of airstrikes, struck over 85 targets in Iraq and Syria, with 39 casualties. National Security Adviser Jake Sullivan indicated that more action was likely, emphasizing that the recent airstrikes were just the beginning of the US response.

As tensions escalate in the Red Sea, Djibouti has heightened coast guard patrols along its strategic waterways, particularly the Bab al-Mandab strait, due to Houthi attacks on Israeli-linked ships from Yemen since November. Colonel Wais Omar Bogoreh, Djibouti Coast Guard Commander, emphasizes the need to bolster security amidst the crisis, aiming to mitigate potential threats in the Red Sea, Gulf of Aden, and Bab al-Mandab. Djibouti's economic growth over the past decade could be at risk due to the ongoing crisis, although the country hosts foreign military bases and collaborates with international partners for maritime security.

Israel has initiated a pilot test, led by Israel's Minister of Transportation Miri Regev, for a land trade route through Arab states, collaborating with UAE-based Puretrans FZCO and Israel-based Trucknet. The operations involve transporting various goods, including food, plastics, chemicals, and electronic devices. Despite ongoing conflicts, the move is seen as cooperation with Arab states, aiming to shorten transportation time by 12 days and reduce delays caused by existing issues. 

Israel has reported striking over 50 targets associated with the Iranian-backed Hezbollah in Lebanon since the Gaza war began on October 7, 2023. Rear Admiral Daniel Hagari stated that Israeli forces targeted 34,000 Hezbollah sites, including border surveillance outposts, missile caches, and command centers, resulting in over 200 enemy casualties. Meanwhile, a Hamas official mentioned that a final agreement for a Gaza truce had not yet been reached.

The European Union is set to launch a naval mission in the Red Sea within three weeks to protect cargo ships from Houthi rebel attacks in Yemen. EU foreign policy chief Josep Borrell aims to have the mission running by February 17, with seven member countries contributing ships or planes. The mission's focus is solely on protecting and intercepting attacks, avoiding direct military engagement. EU defense ministers are expected to decide on the leading country and mission headquarters.

Yemen's Houthi rebels launched an anti-ship ballistic missile at the U.S. Navy guided-missile destroyer USS Carney in the Gulf of Aden, leading to the Carney shooting down the projectile. Navy League Chairman Lou Schager praised the professionalism of the Navy personnel, emphasizing the importance of their training in responding to evolving challenges in the region as part of Operation Prosperity Guardian. 

Ships arriving at Barcelona's port are experiencing delays of 10 to 15 days, navigating around Africa to avoid potential attacks in the Red Sea. Port chief Lluis Salvado stated that the delays impact various product shipments, including liquefied natural gas, with Barcelona being a major LNG terminal in Spain. The situation significantly affects ports in the Eastern Mediterranean, while those in the western part experience shorter delays due to proximity on the detour route around Africa. 

The president of the Athens Chamber of Tradesmen, Yannis Chatzitheodosiou, has reported, Piraeus port is facing up to 20 days of delays for goods, with over 200,000 containers yet to reach the port due to the Red Sea crisis. The cost of transporting each container has risen from EUR1,800 to EUR6,500 due to longer alternative routes. The Athens Chamber of Tradesmen warns of potential shortages and increased prices for electrical goods, mobile phones, and clothes if the crisis persists.

As shipping companies, including Maersk and Hapag-Lloyd, reroute vessels away from the Red Sea due to security concerns, DHL Group advises its customers to carefully review and potentially adjust their inventory strategies. While DHL does not operate ships, it suggests considering alternative transportation methods such as air freight or rail, emphasizing the need for inventory management amid changing trade routes.

The US and UK contemplate military intervention against Yemen's Houthi rebels after successfully repelling the largest Houthi attack on Red Sea shipping. The UN Security Council passed a resolution demanding an immediate end to the attacks, prompting warnings of potential consequences for the Houthi actions.

Disruptions in the Red Sea due to Houthi rebel attacks are prompting exporters to shift to the China-Europe Railway Express, doubling inquiries since the attacks began. With major shipping lines avoiding the Suez Canal route, concerns arise over Lunar New Year delays, leading some Chinese exporters to explore the railway as a viable alternative despite potential cost increases and challenges, signaling a potential shift in transportation modes amid the ongoing shipping crisis.

Ongoing attacks in the Red Sea prompt rerouting of vessels, causing a spike of over 50% in ocean shipping rates in key lanes, with rates from Asia to Northern Europe rising 151% to over $4,000 per FEU. Carriers announce surcharges, with operational costs escalating due to longer transit times and the need to reroute via alternative lanes, impacting trade and triggering concerns about the duration and management of the current shipping crisis.

The diversion of container ships from the Suez Canal to the longer route around the Cape of Good Hope has led to a significant surge in spot rates for Asia-to-US ocean freight at the beginning of 2024. Shippers are experiencing higher costs as vessels reroute, and the potential relief hinges on the return of services to regular routes, including the Panama Canal.

Next CEO Simon Wolfson anticipates potential delays and disruptions in stock arrival, causing a moderation in sales growth, if the Suez Canal disruptions by Houthi militants continue through 2024. The retailer may mitigate the impact through earlier ordering or air freight but acknowledges the potential for some best-selling items to run out, affecting consumer choices.

AD Ports Group has secured a concession agreement with the Red Sea Ports Authority to invest $200 million in developing and operating a new multi-purpose terminal at Safaga Sea Port in Egypt. The project, expected to be operational by 2025, aims to enhance global supply chain efficiency, create faster trade routes, and provide diverse logistics solutions for strategic trading partners, contributing to Egypt's economic objectives.

With ongoing shipping disruptions in the Red Sea due to drone and missile attacks by Houthi rebels and drought-related limitations in the Panama Canal, global businesses are exploring airfreight alternatives. The shipping crisis is prompting a shift of ocean cargo to airlines, causing concerns about vessel shortages and impacting supply chains, leading to potential surges in airfreight demand and increased transportation costs.