Maersk Hopes Int’l Interventions, Naval Presence Will Allow Red Sea Transit to Return

FILE PHOTO: Maersk's logo is seen in stored containers at Zona Franca in Barcelona, Spain, November 3, 2022. REUTERS/Albert Gea//File Photo
FILE PHOTO: Maersk's logo is seen in stored containers at Zona Franca in Barcelona, Spain, November 3, 2022. REUTERS/Albert Gea//File Photo
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Maersk Hopes Int’l Interventions, Naval Presence Will Allow Red Sea Transit to Return

FILE PHOTO: Maersk's logo is seen in stored containers at Zona Franca in Barcelona, Spain, November 3, 2022. REUTERS/Albert Gea//File Photo
FILE PHOTO: Maersk's logo is seen in stored containers at Zona Franca in Barcelona, Spain, November 3, 2022. REUTERS/Albert Gea//File Photo

Maersk hopes international interventions and a larger naval presence in the Red Sea will eventually lead to maritime commerce to resume through the strait, it said on Friday, following US-British strikes overnight against Houthi military targets in Yemen.

"We hope that these interventions and a larger naval presence will eventually lead to a lowered threat environment allowing maritime commerce to transit through the Red Sea and once again return to using the Suez Canal as a gateway," Maersk said in an emailed statement.

Shipping companies have redirected vessels away from the Red Sea around Africa's Cape of Good Hope after Iranian-backed Houthi militants in Yemen stepped up attacks on vessels to show their support for Hamas fighting Israel in Gaza.



GASTAT: Saudi Industrial Production Index Increases by 3.4% in November 2024

GASTAT publishes the IPI monthly. SPA
GASTAT publishes the IPI monthly. SPA
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GASTAT: Saudi Industrial Production Index Increases by 3.4% in November 2024

GASTAT publishes the IPI monthly. SPA
GASTAT publishes the IPI monthly. SPA

Saudi Arabia’s General Authority for Statistics (GASTAT) said Thursday that the Industrial Production Index (IPI) statistics for November 2024 showed a 3.4% increase compared to the same month of the previous year.

This increase is driven by growth in mining and quarrying, manufacturing, water supply, sewerage, and waste management and remediation activities, GASTAT said.

Furthermore, the sub-index of mining and quarrying activity increased by 1.2%, and the sub-index of manufacturing activity increased by 7.2%.

The sub-index of electricity, gas, steam, and air conditioning supply activity recorded a decrease of 2.1%, and the sub-index of water supply, sewerage and waste management and remediation activities increased by 10.5%.

The IPI by main economic activities increased by 3.8% compared to the same month of the previous year, while the index of non-oil activities also increased by 2.4%.

GASTAT publishes the IPI monthly. It is an economic indicator that reflects the relative changes in the volume of industrial output. It is calculated based on the industrial production survey.