Red Sea disruptions to continue into Q3 for shipping companies

02 Jul 2024 CW Team

The coming months will be challenging for carriers and businesses as disruptions to container shipping via the Red Sea persist into the third quarter, Danish shipping company Maersk stated. Maersk and other shipping companies have rerouted vessels around Africa's Cape of Good Hope since December to avoid attacks by Iran-aligned Houthi militants in the Red Sea, resulting in longer voyage times and increased freight rates. Maersk noted that the on-going detours are causing higher costs that could become more entrenched the longer the situation continues. "We don't know yet exactly how much of these costs we will recover and for how long. The higher rates we are seeing right now are of a temporary nature," Vincent Clerc, CEO said during a recent online event with customers. (Source: ET)

Real Estate

08 Apr 2026

BPTP awards Rs 4.88 billion contract to NCC

BPTP has awarded a construction contract worth Rs 4.88 billion to NCC Limited for its residential project Downtown 66 in Gurugram.The contract covers civil structure and finishing works for a total construction area of approximately 1,79,302 sq m, including residential towers and associated amenities, in line with approved plans and specifications.Located along Golf Course Extension Road, the project forms part of BPTP’s Gurugram portfolio and is designed around modern living, sustainability, connectivity and occupier-centric planning.Commenting on the development, Manik Malik, CEO & Pre..

Blue Cloud Acquires Global Impx To Build AI Energy Platform

Blue Cloud Softech Solutions Limited (BCSSL) said its board has approved an all-share acquisition of 100 per cent of Global Impx Inc. (GIX) as part of a strategic pivot into AI-driven energy and digital infrastructure, subject to execution of definitive agreements and regulatory, corporate and shareholder approvals including a Special Resolution at an Extraordinary General Meeting scheduled for May 04, 2026. The BSE-listed technology conglomerate intends the transaction to accelerate its evolution into a technology enabled infrastructure company operating at the convergence of artificial intel..

Hyatt House Offers Home-Like Stays Across 140 Locations

Hyatt House hotels (Hyatt House) is presented as a brand designed to welcome guests seeking spacious and well equipped living accommodations for short or long term stays. The brand operates at more than 140 locations worldwide and delivers home like amenities and purposeful service. It highlights complimentary home cooked breakfast and a creatively curated menu at H Bar as part of its offering. The offering is positioned to appeal to professionals and families who seek both convenience and a sense of familiarity while travelling. Hyatt House provides contemporary spaces that include indoor and..