First Aid Ship to Gaza Leaves Cyprus Port in Pilot Project
A ship transporting almost 200 tons of food to Gaza left a port in Cyprus early on Tuesday in a pilot project to open a new sea route for aid to a population on the brink of famine.The charity ship Open Arms sailed out of Larnaca port in Cyprus, towing a barge containing flour, rice and protein.The 200-mile (320 km) voyage across the eastern Mediterranean to Gaza with a heavy tow barge could take up to 2 days, Cypriot officials have said.The mission, funded mostly by the United Arab Emirates, is organised by U.S.
Only Grain Ships from Black Sea and for Iran Still Crossing Red Sea
Grain ships originating from the Black Sea or bound for Iran are about the only ones still sailing through the Red Sea as Houthi militants continue to attack vessels in the area, analysts said on Friday.The attacks by the Iran-aligned Houthis have disrupted global shipping since November and forced firms to re-route to longer and more expensive journeys around southern Africa."Just about all (dry bulk grain) vessels going from the Americas and western Europe are avoiding the Red Sea…
More Grain Ships Diverted from Red Sea Due to Houthi Attacks
More ships carrying grain were diverted from the Suez Canal to sailings around the Cape of Good Hope this week as concern about attacks on vessels in the Red Sea continued, shipping analysts said on Friday."Another 13 vessels were diverted this week taking the total cargo diverted away from the Red Sea route to around 5.2 million metric tons of grains in about 90 ships since the attacks started late last year," said Ishan Bhanu, lead agricultural commodities analyst at data provider…
Chevron Reroutes Kazakh Oil to Asia Around Africa
Chevron is sending cargoes of Kazakhstan's CPC Blend oil to Asia around Africa's Cape of Good Hope rather than via the Red Sea to avoid the risk of attacks by Yemen’s Houthis, according to three industry sources and LSEG ship-tracking data.The Iranian-aligned Houthis have stepped up attacks on shipping despite U.S.-led air strikes on the group's positions in Yemen, leading more vessels to avoid using the Red Sea and the Suez Canal - the shortest sea route between Europe and Asia.CPC Blend crude is loaded at the Russian Black Sea terminal of Yuzhnaya Ozereevka, near Novorossisk.
Ukraine's Black Sea Grain Export Success Tested by Red Sea Crisis
Ukraine has managed to boost its Black Sea grain exports to a level not seen since before Russia's invasion, although the Red Sea shipping crisis poses a new challenge to its crucial agricultural trade.Kyiv's success in replacing a UN-backed Black Sea export deal with its own shipping scheme has brought relief for Ukrainian farmers and importing countries while representing a naval breakthrough for Ukraine's military as a land counteroffensive has stalled.The export turnaround…
What Does Red Sea Disruption Mean for Europe's Economy?
Weeks of attacks by Iranian-backed Houthi militants on vessels in the Red Sea have disrupted shipping in the Suez Canal, the fastest sea route between Asia and Europe, carrying around 15% of global sea trade.For the European economy, already skirting a mild recession as it tries to shake off high inflation, prolonged trade disruption could derail plans by central banks to start cutting interest rates this year.Here are some factors policymakers are considering as they assess the implications of the disruptions.WHAT HAS BEEN THE IMPACT ON THE EUROPEAN ECONOMY SO FAR?In macroeconomic terms…
Red Sea Shipping Disruptions Could be Avoided by Using the Arctic, But Challenges Exist
Attacks by Yemeni Houthi rebels on merchant ships in the Red Sea have hit world trade. Between November and December 2023, the number of containers travelling through the Red Sea each day fell by 60% as ships moving goods between Asia and Europe diverted their routes around the Cape of Good Hope at the southern tip of Africa.This route results in at least ten days more sailing time, so has caused freight prices to surge and has triggered costly delays to production. The region has become a bottleneck for the global economy before.
Qatari LNG Tankers Resume Course Via Red Sea
Four tankers used for shipments of Qatari liquefied natural gas (LNG) have resumed course after pausing for several days amid maritime attacks by Yemen's Iran-aligned Houthis in the Red Sea, LSEG shiptracking data showed on Tuesday.The Houthi attacks, in what they call a bid to support Palestinians in the war with Israel, have disrupted trade on the main East-West route that makes up about 12% of global shipping traffic.On Monday, the Houthi movement vowed to widen its targets in the Red Sea region to U.S. ships, following U.S.
Oil Tankers Continue Red Sea Movements Despite Houthi Attacks
Oil and fuel tanker traffic in the Red Sea was stable in December, even though many container ships have rerouted due to attacks by Iran-aligned Houthi militants, a Reuters analysis of vessel tracking data showed.The attacks have driven up shipping costs sharply along with insurance premiums, but have had less impact than feared on oil flows, with shippers continuing to use the key East-West passage. The Houthis, who have said they are targeting Israel-bound vessels, have largely…
India Providing Escort for Ships Around the Red Sea
India's defense ministry is providing protective escorts to Indian containerships in the high seas around the Red Sea as the security situation there continues to simmer, a government source said on Friday.Containers could face delays of 14 days in their turnaround time due to taking a longer sea route around Africa which is also causing higher transport and insurance costs, the source, who spoke on condition of anonymity, added."The cost of freight & insurance has risen due to ships being compelled to avoid the region & take a longer route.
Shipping Firms Continue to Pause Red Sea Shipments
Global Denmark's Maersk and German rival Hapag-Lloyd said on Tuesday their container ships would continue to avoid the Red Sea route that gives access to the Suez Canal following a weekend attack on one of Maersk's vessels.Both shipping giants have been re-routing some sailings via Africa's southern Cape of Good Hope as Yemen-based Houthi militants attack cargo vessels in the Red Sea. The disruption threatens to drive up delivery costs for goods, raising fears it could trigger…
Shipping Firms Take First Steps Toward Red Sea Return
France's CMA CGM is increasing the number of vessels travelling through the Suez Canal, it said on Tuesday, joining Maersk in returning to the area after U.S.-led efforts to prevent attacks.The world's top shipping companies, including Maersk and Hapag-Lloyd, stopped using Red Sea routes after Yemen's Houthi militant group began targeting vessels this month, disrupting global trade through the Suez Canal.Instead they have rerouted via southern Africa, a longer and more expensive journey.
Shipping Companies Take First Steps Towards Red Sea Return
France's CMA CGM is increasing the number of vessels travelling through the Suez Canal, it said on Tuesday, joining Maersk in returning to the area after U.S.-led efforts to prevent attacks.The world's top shipping companies, including Maersk and Hapag-Lloyd, stopped using Red Sea routes after Yemen's Houthi militant group began targeting vessels this month, disrupting global trade through the Suez Canal.Instead they have rerouted via southern Africa, a longer and more expensive journey.
Hapag-Lloyd to Decide About Red Sea Routes Mid-Week
Germany's Hapag-Lloyd will decide on Wednesday whether to resume journeys through the Red Sea, a spokesperson said on Tuesday as Maersk prepared to return to the area after a U.S.-led operation began providing safety against attacks.The world's top shipping firms, including Maersk and Hapag-Lloyd, stopped transiting the Red Sea after Yemen's Houthi militant group starting targeting vessels earlier in December, disrupting global trade through the Suez Canal.Instead they have rerouted via southern Africa, a longer and more expensive journey.
Shipping Firms Impose Surcharges as Red Sea Attacks Hit Global Trade
Maersk and CMA CGM, two of the world's largest shipping firms, will impose extra charges after deciding to re-route ships following attacks on vessels in the Red Sea, as worries about the disruption to global trade grow.The surcharges, designed to cover longer voyages around Africa compared with routes via the Suez Canal, will add to rising costs for sea transport since Yemen's Houthi militant group started targeting vessels.Maersk and CMA CGM are among leading shipping lines to have suspended the passage of vessels through the Red Sea that connects with the key Suez Canal…
Lack of Arctic Tankers Puts Russia's LNG Development Dreams on Ice
Russia is hoping its shipments of liquefied natural gas (LNG) will offset a sharp fall in pipeline gas exports to Europe, but a shortage of gas tankers and sanctions hold back its plans, analysts and industry sources said.Russia wants to boost its share of the LNG market to 20% by 2030 from 8% now, but a force majeure declaration by top producer Novatek over LNG supplies from its future Arctic LNG 2 project due to sanctions shows the hurdles it faces.Novatek's announcement comes after the United States last month imposed sanctions on Arctic LNG 2…
How Could Red Sea Attacks Affect Oil and Gas Shipping?
Several shipping companies and a few liquefied natural gas (LNG) tankers have decided to avoid the world's main East-West trade route, following attacks launched by Yemen's Houthi group on commercial ships at the southern end of the Red Sea.The attacks raised the specter of another bout of disruption to international commerce following the upheaval of the COVID pandemic, and prompted a U.S.-led international force to patrol waters near Yemen.IS THE RED SEA ROUTE IMPORTANT FOR…
Shippers Mask Positions, Weigh Options Amid Red Sea Attacks
A number of container ships are anchored in the Red Sea and others have turned off tracking systems as traders adjust routes and prices in response to maritime attacks by Yemen's Iran-aligned Houthis on the world's main East-West trade route.Attacks in recent days on ships in the major Red Sea shipping route have raised the spectre of another bout of disruption to international commerce following the upheaval of the COVID pandemic, and prompted a U.S.-led international force to patrol waters near Yemen.The Red Sea is linked to the Mediterranean by the Suez Canal…
Nations and Industry Partners Respond to Green Shipping Challenge
Norway’s Prime Minister Jonas Gahr Støre and US Special Presidential Envoy for Climate John Kerry are co-leading an international initiative to accelerate reduction of emissions from the shipping sector, and on December 1, during COP28, they chaired a new round of announcements under that initiative, the Green Shipping Challenge.Various countries and organizations proposed measures to reduce emissions from shipping. This year’s announcements include:• Amazon: Amazon and other…
Yara Plans World’s First Ammonia-Powered Container Ship
Yara Clean Ammonia, North Sea Container Line, and Yara International have joined forces to realize the world's first container ship that will use clean ammonia as fuel. Named Yara Eyde, the vessel will be the first to sail emission-free sea route between Norway and Germany.Yara Eyde will operate between Oslo, Porsgrunn, Hamburg and Bremerhaven, so that from 2026, Norwegian companies can trade their products emissions-free in and out of Norway. Yara International is participating as cargo-owner.
Russia Strikes Deal with DP World to Develop Arctic Sea Route
Russian nuclear agency Rosatom said on Tuesday it has set up a joint venture with Dubai's DP World to develop container shipping through the Arctic as part of an initiative heavily promoted by President Vladimir Putin.The deal with one of the world's top port operators is the most tangible sign yet of Moscow's ability to attract big international partners to help it realise its ambitious plans for what it calls the Northern Sea Route.Putin has talked up prospects for the Arctic corridor…
Ukraine's Farmers Look to New Black Sea Route to Boost Food Exports
Agricultural producers in Ukraine say a new Black Sea corridor could enable exports of up to 2.5 million metric tons of food a month, almost offsetting the impact of Russia's decision to quit a U.N.-brokered deal to allow grain shipments through the region.The export deal brokered by the United Nations and Turkey collapsed in July as Russia declined to recognize it, saying its demand that sanctions be lifted on its grain and fertilizer exports had not been met.Kyiv has since opened what it says is a temporary humanitarian corridor in a bid to break Russia's de facto blockade.
Norwegian Navy Shadows Chinese Vessel Probed over Baltic Pipeline Damage
A Norwegian Navy ship shadowed a Chinese container ship investigated over damage to a gas pipeline in the Gulf of Finland for about 15 hours as it sailed along the western coast of Norway on Monday, vessel tracking data showed.Finnish investigators on Tuesday said they were looking into the Chinese vessel, the NewNew Polar Bear, and a Russian-flagged ship, the Sevmorput, as well as other vessels, present in the area when a Baltic Sea pipeline was damaged on Oct. 8.They said the incident was due to "outside activity" and could have been deliberate.The NewNew Polar Bear is a container ship travelling between Europe and China via the Northern Sea Route in the Arctic.