As Hostilities Resume, Red Sea Insurance Rates Hold FIrm
The cost of shipping goods through the Red Sea is expected to remain firm after the United States carried out further airstrikes on Yemen on Monday, adding to fears of new attacks on ships by the Iran-aligned Houthis targeted by Washington, industry sources said.Responding to the Houthi movement's threats to international shipping, the U.S. launched airstrikes on Saturday. On Monday, the Red Sea port city of Hodeidah and Al Jawf governorate north of the capital Sanaa were targeted, the Houthis' Al Masirah TV said.In January, the Houthis said they would halt attacks on U.S.
Marine Fuel Sales Soar After Red Sea Diversions
Global marine fuel sales jumped in 2024 after attacks by Yemen's Houthis starting in late 2023 prompted most shipping companies to divert vessels around southern Africa rather than through the Red Sea, according to data and analysts.Singapore bunker volumes logged fresh highs of 54.92 million metric tons in 2024, or about 955,000 barrels per day (bpd), while sales at United Arab Emirates' Fujairah posted the first annual uptick after a downtrend for several years.Rotterdam marine fuel sales rose 12% in the first quarter of 2024 to 2.16 million tons, or about 38,000 bpd from the previous three
Suez Canal Expands as Revenues Plunge $7B
Egypt successfully tested a new 10 km channel near the southern end of the Suez Canal, even as its revenue from the waterway has plunged since Yemen's Houthi militants began attacking vessels in the Red Sea.The Suez Canal Authority said in a statement that during a trial run two ships passed through a new stretch of the canal's two-way section without incident.Following the 2021 grounding of the container ship Ever Given that blocked the vital waterway for six days, Egypt accelerated…
Greek-flagged Tanker Vessel Crew Forced to Abandon Ship
The crew of Greek-flagged oil tanker the Sounion that was attacked in the Red Sea abandoned the vessel and were taken to Djbouti by the EU's Red Sea naval mission "Aspides", an official in the mission told Reuters on Thursday.The tanker, with a listed capacity of 163,759 MT, was the third vessel operated by Athens-based Delta Tankers to be attacked in the Red Sea this month.The Iran-aligned Houthi militants have launched attacks on international shipping in the Red Sea region since November in solidarity with Palestinians in the war between Israel and Hamas in Gaza.Sounion…
Tanker Vessel Reported Attack off Yemen's Hodeidah
Oil products tanker Sounion reported being attacked by two small boats and struck by three projectiles in the Red Sea off Yemen on Wednesday, the United Kingdom Maritime Trade Operations (UKMTO) said.There were no casualties reported among the 25 crew members onboard, but the Greek-flagged vessel has lost the ability to maneuver, UKMTO added.The vessel reported being approached by two small craft with approximately 15 people onboard and said there was a brief exchange of small arms fire…
US Hits Back After Houthis Target American Warships
U.S. military forces have struck at targets in Houthi-controlled Yemen in the past 24 hours, destroying two drones, a Houthi ground control station, and three anti-ship cruise missiles, the U.S. Central Command (CENTCOM) said.Earlier, the Iran-aligned Houthi movement said it had attacked a container ship in the Red Sea and two U.S. destroyers in the Gulf of Aden on Wednesday.CENTCOM said in a statement on the U.S strikes: "These weapons presented a clear and imminent threat to U.S.
Houthis Target Containership, US Warships in Latest Red Sea Attacks
Yemen's Iran-aligned Houthi movement said on Wednesday that it had targeted a ship identified as the Contship Ono in the Red Sea as well as two U.S. destroyers in the adjacent Gulf of Aden.The Houthi air force targeted U.S. destroyer Cole with a number of drones and the U.S.
Vessel Damaged in Houthi Attack Diverts to Djibouti
A container vessel that was hit by Houthi militants off Yemen on Saturday in the first such attack in two weeks, has arrived safely in Djibouti and the strike caused no injuries or water ingress, its Greek manager said on Monday.Yemen's Iran-aligned Houthis said on Sunday that they targeted the Liberia-flagged MV Groton in the Gulf of Aden with ballistic missiles, claiming their first attack on shipping lanes since Israel carried out a retaliatory airstrike in Hodeidah port on July 20.The MV Groton was hit by a missile 60 nautical miles off the coast of Yemen…
Houthi Threat to Red Sea Shipping is Growing
Recent developments in the Red Sea and surrounding waterways suggest that the threat to international shipping from Yemen's Houthis is growing, U.N. Special Envoy to Yemen Hans Grundberg told the U.N. Security Council on Tuesday.In a briefing on the situation in Yemen, Grundberg warned of a real danger of a devastating regional escalation following new Houthi attacks on commercial shipping and the first Israeli air strikes on Yemen in retaliation for Houthi drone and missile attacks…
Houthis Target Three Vessels, Including Oil Tanker
Yemen's Houthis targeted three vessels, including an oil tanker, in the Red and Mediterranean seas with ballistic missiles, drones and booby-trapped boats, they said on Monday.Houthi military spokesperson Yahya Saree said the latest Houthi military operations were a response to the Israeli airstrike on the southern Gaza Strip city of Khan Younis on Saturday, an attack that killed at least 90 Palestinians and wounded 300 others, according to the Gaza Health Ministry.In dozens of attacks since November…
