Connect with us

Hi, what are you looking for?

Stock

Ikea says products will be delayed due to Red Sea diversions

Ikea warned of delays on some products due to the mass diversion of shipping containers from the Red Sea over safety concerns.

“The situation in the Suez Canal will result in delays and may cause availability constraints for certain IKEA products,” a spokesperson said by email Thursday.

They added that the safety of staff working in its supply chain was its priority, and it was evaluating other options to secure the availability of products. Ikea does not have its own container vessels but uses external operators.

At least $80 billion worth of cargo has already been diverted from the waterway which provides access to Egypt’s Suez Canal, the quickest passage between Europe and Asia, due to a wave of drone and missile attacks by Yemen-based Houthi militants.

Sweden’s Electrolux, the world’s largest appliance company, has set up a task force to find alternative routes and identify priority deliveries, Reuters reported.

Shipping giants Maersk, Hapag-Lloyd and CMA CGM are among those to have confirmed this week they will begin diverting ships already in transit around the longer Cape of Good Hope route along the south of Africa as the attacks continue.

Clerc added that it was unclear how quickly firms would see the impact from a new U.S.-led task force, which is seeing advanced air-defense military ships from countries including the U.K. and Italy head to the area.

Europe is set to have the biggest impact from the delays due to its strong trade ties with Asia, and because cargo bound for the Americas can travel via the Pacific.

This post appeared first on NBC NEWS

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.






    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Latest News

    The presidents of Spain’s regional soccer federations are calling for the resignation of Luis Rubiales, the suspended president of the National Football Association, in...

    Latest News

    Luis Rubiales on Sunday resigned from his position as president of the Spanish soccer federation following weeks of fierce criticism over his unwanted kiss...

    Editor's Pick

    When searching for world-class gold deposits, mining companies prefer high-grade, near-surface mineralization. Epithermal gold deposits check these boxes and more. While gold is often...

    Editor's Pick

    Overview A lot can change in two years — just look at Brazil. Best described as a bit player in the lithium space only...

    Disclaimer: dividendsgrowth.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 dividendsgrowth.com