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Time of India
4 days ago
- Automotive
- Time of India
China's automakers are taking a shortcut to European markets
Live Events BEIJING: Chinese automakers are shipping cars to Europe through the Red Sea and Suez Canal , nearly two years after the Iran-backed Houthi militia in Yemen started attacking vessels in the critical Middle East transit automakers are still shipping cars from Asia by way of a much longer, and expensive, trip around month, at least 14 car-carrier ships traveled from Chinese ports to Europe through the Red Sea and Suez Canal, according to a new analysis by Lloyd's List Intelligence , a British maritime information service. About the same number made the voyage in trips have continued even after the Houthis used drones, grenades and gunfire to sink two other cargo ships early last month. The militia group says the attacks are in solidarity with Palestinians living through Israel's war against Hamas in the Gaza shipping analysts assume that the Chinese government has reached an understanding with Iran or the Houthis not to harm car-carrier ships from China . It seems that "China has found a way to deal with the Iran-backed Houthi rebels, and they have been told that their ships will not be targeted," said Daniel Nash, associate director of valuation and analytics at Veson Nautical, another maritime data through the Red Sea and Suez Canal saves 14 to 18 days on each round trip between Asia and Europe, compared with going around Africa. This reduces costs for fuel, crews and the ships themselves by a couple hundred dollars per around Africa "adds considerable costs to a shipowner's fuel bill, increases pollution from the vessel and ultimately adds costs for buyers of new cars," said Rob Willmington, a senior analyst at Lloyd's List who led the review of voyages by car-carrier savings help Chinese automakers compete in Europe with Japanese, Korean and European automakers, which rely on European and Japanese shipping lines that are not using Red Sea automakers face other costs -- thousands of dollars for each car -- from tariffs the European Union imposed on electric vehicles from China last and other Chinese automakers have partly bypassed those tariffs by sending hybrid cars that mainly use battery-powered electric motors with small gasoline engines as other commercial vessels, including big container ships belonging to the state-owned China Ocean Shipping Co., known as Cosco, have been avoiding the Red Sea and Suez Canal since the Houthi militia began sinking or hijacking ships near Yemen in November 2023. Shipowners in Europe and Asia mostly refuse to allow companies to charter their vessels for such trips. Commercial insurers in London have become wary of insuring such voyages, charging higher rates when they automakers, notably BYD and SAIC Motor, have taken delivery in recent months from Chinese shipyards of some of the world's largest ships designed specially to carry cars. The automakers are sending these newly built vessels through the Red Sea anyway. Built in shipyards on or near the Yangtze River, these ships have a dozen decks and can carry as many as 5,000 cars, worth a total of $100 million or more, on each state-owned SAIC Motor, previously known as the Shanghai Automotive Industry Corp., and BYD did not respond to requests for comment. In addition to Chinese-owned ships, several car-carrier ships owned by a South Korean company or by a joint venture of businesses in Abu Dhabi, United Arab Emirates, and Turkey also sailed through the Red Sea and Suez Canal in June and July after stopping at car-loading ports in China, Willmington a written reply to questions, China's Ministry of Foreign Affairs did not mention car-carrier ships but said that "China has been playing an active role in easing tensions since the situation in the Red Sea escalated, and will continue to contribute to the early restoration of peace and tranquility in the Red Sea."China buys almost all of Iran's crude oil exports, which represent 6% of Iran's economy and are equal to half of the Iranian government's annual budget. Chinese officials contend that boycotts of Iran's oil exports were organised by the West but never approved by the United Nations, and so are not binding on Chinese oil Houthis announced July 28 that they would continue their campaign of attacks on ships that they believe have any connection to Israel or Israeli ports. The campaign began soon after Hamas militants from Gaza attacked southern Israel on Oct. 7, of the first Houthi targets, and the best-known incident, involved the hijacking in November 2023 of the Galaxy Leader, a car-carrier ship that was traveling back empty from Europe to Asia. The ship's 25-member crew was held hostage for 14 months in Yemen and finally released in January, but the Houthis kept the ship at a Yemeni Israeli air force bombed the vessel a month ago after reports that the Houthis were using a sophisticated radar system on the ship to track potential targets in the Red Sea for attacks.
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First Post
4 days ago
- Business
- First Post
Has China cut a deal with Houthis? Its car cargo sailing through Red Sea, others still taking a detour
An analysis by Lloyd's List Intelligence, a British maritime information service, has said that at least 14 car-carrier ships passed through the Red Sea and Suez Canal from China to ports across Europe last month read more Advertisement (File) USS Carter Hall and amphibious assault ship USS Bataan transit the Bab al-Mandeb strait. AP/Representational image Unlike other cargo ships, China is shipping its automobiles to parts of the world via the Red Sea and the Suez Canal, even amid the Iran-backed Houthi group's continued aggression in the region that has forced merchant vessels from other countries to take a different route. An analysis by Lloyd's List Intelligence, a British maritime information service, has said that at least 14 car-carrier ships passed through the Red Sea and Suez Canal from China to ports across Europe last month. STORY CONTINUES BELOW THIS AD The voyage occurred despite Houthis using drones, grenades and gunfire to sink two cargo ships last month. The terror group says that its attacks are motivated by solidarity with Gazans in Palestine. Why is China getting special treatment? Shipping analysts believe that the Chinese government has reached an understanding with the Houthis or Iran not to harm car-carrier ships from China. Daniel Nash, associate director of valuation and analytics at Veson Nautical, told the New York Times, 'China has found a way to deal with the Iran-backed Houthi rebels, and they have been told that their ships will not be targeted.' Travelling through the Red Sea and Suez Canal saves 14 to 18 days on each round trip between Asia and Europe, compared to the longer route around Africa. This shorter passage cuts down on fuel, crew expenses, and overall shipping costs by several hundred dollars per car. What are the other routes? Houthi rebels in Yemen, seeking to stop Israel's offensive against Hamas in Gaza, are attacking cargo ships plying the waters connecting Asia with Europe and the United States, forcing traffic away from the Suez Canal and around the tip of Africa. The disruption is causing delays and driving up costs, at a time when the world has yet to vanquish a resurgence of inflation. Escalating Houthi threats have triggered rerouting of global shipping via the Cape of Good Hope, with far-reaching consequences, from elevated freight and insurance costs to extended delivery times, emissions spikes, humanitarian delays, and regional port shutdowns. Governments and shipping firms are responding with naval protection, international coordination, and structural adaptations to safeguard vital trade routes.
Straits Times
4 days ago
- Automotive
- Straits Times
China's automakers are taking a shortcut to European markets
Sign up now: Get ST's newsletters delivered to your inbox In July, at least 14 car-carrier ships travelled from Chinese ports to Europe through the Red Sea and Suez Canal. BEIJING – Chinese automakers are shipping cars to Europe through the Red Sea and Suez Canal, nearly two years after the Iran-backed Houthi militia in Yemen started attacking vessels in the critical Middle East transit route. Other automakers are still shipping cars from Asia by way of a much longer, and expensive, trip around Africa. In July, at least 14 car-carrier ships travelled from Chinese ports to Europe through the Red Sea and Suez Canal, according to a new analysis by Lloyd's List Intelligence, a British maritime information service. About the same number made the voyage in June. The trips have continued even after the Houthis used drones, grenades and gunfire to sink two other cargo ships early in July. The militia group says the attacks are in solidarity with Palestinians living through Israel's war against Hamas in the Gaza Strip. Most shipping analysts assume that the Chinese government has reached an understanding with Iran or the Houthis not to harm car-carrier ships from China. It seems that 'China has found a way to deal with the Iran-backed Houthi rebels, and they have been told that their ships will not be targeted', said Mr Daniel Nash, associate director of valuation and analytics at Veson Nautical. Top stories Swipe. Select. Stay informed. Business Singapore raises 2025 economic growth forecast but warns of uncertainty from US tariffs World Trump signs order extending China tariff truce by 90 days, White House says Opinion For Singapore, the AI revolution is coming just in time Asia Death of student in Sabah raises hurdle for Malaysian PM Anwar as he faces tough state polls soon Opinion Sumiko at 61: Hearing loss is linked to dementia risk. Here's what you risk by ignoring it Business S'pore start-up among 5 global picks for Japan construction group Kajima's mentorship and funding World Trump seizes control of Washington police, deploys National Guard Business Lower-wage retail workers to receive up to 6% pay bump from Sept 1 Traveling through the Red Sea and Suez Canal saves 14 to 18 days on each round trip between Asia and Europe, compared with going around Africa. The savings help Chinese automakers compete in Europe with Japanese, Korean and European automakers, which rely on European and Japanese shipping lines that are not using Red Sea routes. Most other commercial vessels have been avoiding the Red Sea and Suez Canal since the Houthi militia began sinking or hijacking ships near Yemen in November 2023. Shipowners in Europe and Asia mostly refuse to allow companies to charter their vessels for such trips. Commercial insurers in London have become wary of insuring such voyages, charging higher rates when they do. The state-owned SAIC Motor, previously known as the Shanghai Automotive Industry, and BYD did not respond to requests for comment. In a written reply to questions, China's Ministry of Foreign Affairs did not mention car-carrier ships but said that 'China has been playing an active role in easing tensions since the situation in the Red Sea escalated, and will continue to contribute to the early restoration of peace and tranquillity in the Red Sea'. NYTIMES
Time of India
4 days ago
- Automotive
- Time of India
Where are Houthis? China's automakers taking shortcut to European markets
1 2 Chinese automakers are shipping cars to Europe through the Red Sea and Suez Canal, nearly two years after the Iran-backed Houthi militia in Yemen started attacking vessels in the critical Middle East transit route. Other automakers are still shipping cars from Asia by way of a much longer, and expensive, trip around Africa. Last month, at least 14 car-carrier ships travelled from Chinese ports to Europe through the Red Sea and Suez Canal, according to a new analysis by Lloyd's List Intelligence, a British maritime information service. About the same number made the voyage in June. The trips have continued even after the Houthis used drones, grenades and gunfire to sink two cargo ships last month. Most shipping analysts assume that the Chinese govt has reached an understanding with Iran or the Houthis not to harm car-carrier ships from China. It seems that "China has found a way to deal with the Iran-backed Houthi rebels, and they have been told that their ships will not be targeted," said Daniel Nash, associate director of valuation and analytics at Veson Nautical, a maritime data firm. Travelling through the Red Sea and Suez Canal saves 14 to 18 days on each round trip between Asia and Europe, compared with going around Africa. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like No annual fees for life UnionBank Credit Card Apply Now Undo This reduces costs for fuel, crews and the ships themselves by a couple hundred dollars per car. Going around Africa "adds considerable costs to a shipowner's fuel bill, increases pollution from the vessel and ultimately adds costs for buyers of new cars," said Rob Willmington, a senior analyst at Lloyd's List who led the review of voyages by car-carrier ships. Shipowners in Europe and Asia mostly refuse to allow companies to charter their vessels for such trips. Commercial insurers in London have become wary of insuring such voyages, charging higher rates when they do. The state-owned SAIC Motor, previously known as the Shanghai Automotive Industry Corporation, and BYD did not respond to our requests for comment. In addition to Chinese-owned ships, several car-carrier ships owned by a South Korean company or by a joint venture of businesses in Abu Dhabi and Turkey also sailed through the Red Sea and Suez Canal after stopping at car-loading ports in China, Willmington said. In a written reply to questions, China's ministry of foreign affairs did not mention car-carrier ships but said that, "China has been playing an active role in easing tensions since the situation in the Red Sea escalated, and will continue to contribute to the early restoration of peace and tranquillity in the Red Sea."
TimesLIVE
10-07-2025
- Politics
- TimesLIVE
Six crew rescued, 15 missing after Houthis sink latest Greek ship in Red Sea
The EU's Aspides naval mission, which protects Red Sea shipping, confirmed in a statement that six people had been pulled from the sea. The Red Sea, which passes Yemen's coast, has long been a critical waterway for the world's oil and commodities but traffic has dropped sharply since the Houthi attacks began. The number of daily sailings through the narrow Bab al-Mandab strait, at the southern tip of the Red Sea and a gateway to the Gulf of Aden, numbered 30 vessels on July 8, from 34 ships on July 6 and 43 on July 1, according to data from maritime data group Lloyd's List Intelligence. Oil prices rose on Wednesday, maintaining their highest levels since June 23, also due to the recent attacks on ships in the Red Sea. MULTIPLE ATTACKS Eternity C was first attacked on Monday afternoon with sea drones and rocket-propelled grenades fired from speed boats by suspected Houthi militants, maritime security sources said. Lifeboats were destroyed during the raid. By Tuesday morning the vessel was adrift and listing. Two security sources told Reuters that the vessel was hit again with sea drones on Tuesday, forcing the crew and armed guards to abandon it. The Houthis stayed with the vessel until the early hours of Wednesday, one of the sources said. Skiffs were in the area as rescue efforts were under way. The crew comprised 21 Filipinos and one Russian. Three armed guards were also on board, including one Greek and one Indian, who was one of those rescued. The vessel's operator, Cosmoship Management, has not responded to requests for confirmation of casualties or injuries. If confirmed, the four reported deaths would be the first fatalities from attacks on shipping in the Red Sea since June 2024. Greece has been in talks with Saudi Arabia, a key player in the region, over the latest incident, according to sources.
