Today
Comyn loses his deputy; No ship to Red Sea; Inside the secret CEO school
Read everything that’s happened in the news so far today.
- 26 mins ago
Oil edges higher as Red Sea risks outpace rising US inventories
Oil swung in a wide range before ending the session in New York modestly higher, extending its winning streak to three days.
- Updated
- Julia Fanzeres and Alex Longley
Over 100 container ships reroute as US weighs Red Sea response
Insurance premiums are surging for those who do cross the Red Sea, freight rates are up and so are oil prices – all potential factors for more inflation.
- Stefan Nicola
Yesterday
Red Sea chaos has shippers bracing for weeks without key route
Naval convoys shepherding ships through the perilous stretch of water could offer some protection, but it’s not straightforward.
- Alex Longley and Jack Wittels
Oil holds gains as Red Sea attacks cause panic among shippers
Brent rose above $US79 a barrel and US oil extended gains above $US74 as more companies opted to avoid the key shipping conduit.
- Julia Fanzeres and Mia Gindis
Red Sea shipping chaos, by the numbers
Since the attacks ramped up last month, at least 13 vessels have been subject to incidents in the area. Ambrey Intelligence puts the figure even higher.
- Alex Longley
This Month
Freight, oil climb as Red Sea attacks shut down shipping
Intensifying attacks from Houthi rebels in the Red Sea hastened a US-led response to a dangerous escalation of the Gaza war that threatens global trade.
- Jenny Wiggins, Jacob Greber, Sarah Jones and Mark Mulligan
Kahlbetzer-backed solar start-up eyes Nasdaq proceeds for SA projects
Vast Renewables expects to commit to building a concentrated solar project and a separate green methanol project in the state in the second half of 2024.
- Angela Macdonald-Smith
Oil climbs as Red Sea attacks shut down shipping
The threat from Houthi militants is forcing major container lines to pull out of the area, raising fears the Israel-Hamas war will undermine the global economy.
- Updated
- Elizabeth Low
Shipping giants halt Red Sea route in blow to global trade
Maersk, the world’s second-biggest container shipper, and Hapag-Lloyd will not use the vital trade route after missile attacks made it unsafe for vessels.
- Updated
- Alaric Nightingale and Sanne Wass
Climate change could ruin Christmas as Panama Canal dries up
A drought in Central America is slowing the passage of container ships through one of the world’s busiest trade routes.
- Tim Culpan
Forrest’s green ship makes a splash in Dubai
Fortescue’s prototype ammonia-powered vessel sailed from Singapore to Dubai, just to make a point: red tape is holding back green shipping.
- Hans van Leeuwen
November
- Exclusive
- Cybersecurity
Minister lashes DP World hack failure
“A known problem, with a known patch – Australia needs to do better than this,” said Home Affairs Minister Clare O’Neil after an update from DP World.
- Max Mason and Nick Bonyhady
- Opinion
- Hydrogen
German court deals blow to hydrogen hopes
A shock court ruling has slashed funding for Germany’s ambitious plans in hydrogen, although the commitment to a big expansion in the use of the fuel remains.
- Updated
- Angela Macdonald-Smith
Cyberattack leaves $1m of frozen lamb trapped at docks
Ararat Meat Exports has container loads of frozen lamb and mutton waiting to be loaded onto ships at Swanson Dock in Melbourne.
- Euan Black
ANZ’s record profit; Ports reopen; Gold Coast frenzy
Read everything that’s happened in the news so far today.
- Exclusive
- Employment
Sea safety at stake in contract row
A company’s 22-year connection to maritime navigation looks uncertain after a government agency changed its tender process.
- Ronald Mizen
China’s import surprise offers hope as recovery risks linger
China’s imports expanded year-on-year for the first time since February, a rare sign of growth against a backdrop of weaker overall trade activity in 2023.
- Linda Lew
Giant Maersk to cut 10,000 jobs
The shipping company says it will cut thousands of jobs to save $US600 million as container and logistics firms face an abrupt drop in earnings.
- Christian Wienberg
October
Inside an expedition to locate the Beagle’s lost anchors
A remote river in the Northern Territory is being persuaded to reveal its secrets. Yet like any wild thing, it does not wish to be known.
- Paul Toohey
