Why are shipping companies reconsidering the Red Sea?
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 27 December 2023
⏱️ 7 minutes
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Summary
From the BBC World Service: One of the world’s biggest shipping companies says it’s still too dangerous to send its ships back through the Red Sea. Japanese car maker, Daihatsu, says it’s suspending operations at all four of its Japanese manufacturing plants after a major safety scandal. Argentina’s new president, Javier Milei, has signed a decree cancelling the contracts of 7,000 public sector workers. And how can AI help agriculture? We visit a vineyard in Bangalore to find out how modern technology is boosting productivity.
Transcript
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| 0:00.0 | Disruption in the Red Sea continues. |
| 0:04.0 | Live from the BBC World Service, this is the Marketplace Morning Report. |
| 0:07.0 | I'm Luke Wilson in Fleeanna Byrne. |
| 0:10.0 | Good morning. One of the world's biggest shipping companies says it's still too dangerous to send its ships back through the Red Sea. |
| 0:17.0 | Hapag Lloyd is one of the companies that have stopped using the route because of drone and missile attacks by Yemen's |
| 0:23.9 | Huthy rebels. The German company says it'll review the situation again on Friday. |
| 0:28.9 | The BBC's Eletronay Smith has more. |
| 0:31.0 | Hepag Lloyd suspended shipping through the Red Sea and the Suez Canal after an attack on one of its |
| 0:36.5 | container ships. |
| 0:38.0 | The crew was unharmed and the vessel continued its journey, but the company said the situation was unsafe and the risks unacceptable. |
| 0:45.7 | An international military coalition led by the US has been deployed in the critical waterway |
| 0:50.7 | to safeguard international trade. |
| 0:53.0 | Mersk, another shipping giant, has said it's preparing to resume operations, |
| 0:57.0 | although there doesn't appear to be a specific timetable. |
| 1:01.0 | The BBC's Electra Naysmith. Let's do the numbers. And it's a positive morning on the Asian and European markets. The Futsi 100 in London is up just over half a percent, while the Nik in Tokyo closed up 1 and 1 tenth of a percent. |
| 1:16.6 | Staying with Japan and the carmaker Daihatsu says its suspending operations at all four of its Japanese manufacturing plants after a major safety |
| 1:26.0 | scandal. The company has admitted that it's been manipulating the results of safety tests |
| 1:31.1 | on almost all of its models for three decades. The factories in Japan will stop production until at least the end of January. |
| 1:38.6 | The BBC's Mickey Bristow reports. |
| 1:41.0 | Earlier this year, Daihatsu admitted that it had manipulated safety. reports. four different makes were involved in the falsification of test results, a practice which went |
| 1:55.2 | back as far as 1989. It seems managers were under pressure to keep production rolling. |
| 2:01.7 | Investigators have raided the company's offices. |
... |
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