FILE PHOTO: The administrative entrance at the Whirlpool plant in Clyde Ohio(Reuters) - Whirlpool Corp said on Tuesday its European business would start feeling the impact of the Red Sea crisis, as vessels sailing through one of the world's most important shipping routes come under attacks from the Iran-backed Houthi militia. "That brings uncertainty more in European supply chain," CEO Marc Bitzer said on a post-earnings call with analysts, without giving details about the timeline. Whirlpool, however, sees a small impact on some of the East Coast shipments in North America, not so much in costs but more in terms of time. Data from S&P Global showed the Suez Canal route accounts for 14.8% of all Europe and Middle East and North Africa (MENA) imports. Whirlpool on Monday forecast full-year sales and profit below analysts' estimates as the home appliance maker struggles to keep costs in check.

Source: The North Africa Journal January 30, 2024 15:58 UTC