Of course oil prices go up. A moth farts and the prices go up jfc.
Given that a large cargo vessel will measure fuel use in tonnes per hour, this is not a small amount of fuel we're talking about.
Also if any oil haulers have to reroute, it will delay delivery to refineries
End your addiction to oil and it won’t bother you anymore.
That's a chunk of change Suez are missing out on, multiple millions in fact.
It's a chunk of change all of us are going to have to makeup in one way or another.
This is the best summary I could come up with:
More than 100 container ships have been rerouted around southern Africa to avoid the Suez canal, in a sign of the disruption to global trade caused by Houthi rebels attacking vessels on the western coast of Yemen.
About 19,000 ships navigate the Suez canal every year, making it one of the world’s key routes, particularly for fossil fuels and goods moving between Asia and Europe.
Michael Aldwell, Kuehne and Nagel’s board member for sea logistics, said: “The extended time spent on the water is anticipated to absorb 20% of the global fleet capacity, leading to potential delays in the availability of shipping resources.
The latest disruption will not affect the retail industry this Christmas, because stocks are built up weeks or even months in advance, meaning products are already in stores or in UK warehouses.
An extended disruption to normal shipping patterns could eventually cause shortages of products for consumers or parts for manufacturers, although few have reported any effects so far.
Some manufacturers had already switched from “just-in-time” supply chains that relied on goods arriving promptly, to a less efficient – but more resilient – “just-in-case” model with more emergency stockpiles of parts.
The original article contains 484 words, the summary contains 194 words. Saved 60%. I'm a bot and I'm open source!
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