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Houthis Hit US-owned Dry Bulk Ship, No Injuries
Houthi forces in Yemen struck the U.S.-owned and operated dry bulk ship Gibraltar Eagle with an anti-ship ballistic missile, U.S Central Command said on Monday, although there were no reports of injuries or significant damage.The vessel's U.S.-based operator Eagle Bulk Shipping said that it was hit by an "unidentified projectile" while sailing 100 miles off the Gulf of Aden and suffered limited damage to its cargo hold…
Houthis Vow to Keep Up Red Sea Attacks
The chief negotiator for Yemen's Houthis said on Monday the group's stance has not changed since U.S.-led air strikes on its positions, and warned that attacks on ships headed to Israel will continue.U.S. and British warplanes, ships and submarines last week launched dozens of air strikes across Yemen in retaliation for Houthi attacks on Red Sea shipping, which the Iran-aligned movement cast as a response…
QatarEnergy Stops Red Sea LNG Shipping Due to Attacks
QatarEnergy, the world's second largest exporter of liquefied natural gas, has stopped sending tankers via the Red Sea although production continues, a senior source with direct knowledge of the matter told Reuters on Monday.Yemen's Iran-backed Houthi group has since November been attacking vessels in the Red Sea, part of a route that accounts for about 12% of the world's shipping traffic, in what…
US Says it Shot Down Missile Heading Towards USS Laboon
U.S. fighter aircraft shot down an anti-ship cruise missile fired from Houthi militant areas of Yemen toward a U.S. destroyer operating in the Southern Red Sea, the U.S. military said on Sunday.The midair interception is the latest incident in the Red Sea where the Houthis have been attacking international shipping in what they say is a campaign to support Palestinians under seige from Israeli forces…
Baltic Dry Index Marks Worst Week Since 2008
The Baltic Exchange's dry bulk sea freight index slid on Friday as its worst week since 2008 came to an end with rates across vessel segments languishing at multi-month lows.The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, lost 94 points, or 6.1%, to 1,460, its lowest level since Nov. 2. It shed more than 30% for its biggest weekly decline since 2008.The capesize index dropped by 252 points…
As Missiles Soar, Freight Rates Soar, too
Missile strikes by the US and UK against Houthi militia in Yemen has brought heightened tensions across the region with disruption to ocean freight shipping set to deteriorate further.At approximately 2.30am (Sanaa/Red Sea time) today, Friday, the US and UK military carried out air strikes on targets in Yemen in response to Houthi militia attacks on merchant ships in the Red Sea, which have totalled 27 since November 19.“We want to see safe…
Suez Canal Revenues Down 40% Due to Houthi Attacks
Dollar revenues from Egypt's Suez Canal are down 40% from the beginning of the year compared to 2023, canal authority head Osama Rabie said on Thursday, after attacks on ships by Yemen's Houthis caused major shippers to divert away from the route.Ship traffic was down 30% in the period between Jan. 1 and Jan. 11 compared to a year prior, Rabie said, speaking on a late night talk show.The number of vessels to pass through the Suez Canal dropped to 544 so far this year…
Wallenius Wilhelmsen Re-Routes Vessels Away from Red Sea
“The safety of our people is our number one priority,” said Wallenius Wilhelmsen in a statement indicating that until further notice it has decided to reroute all vessels to avoid the Red Sea area.“To monitor the ever-changing situation, we have developed a cross-functional team. Aside from ensuring safety, the team is evaluating operational, legal and commercial implications over the next couple of months.”All vessels planned for Red Sea transit will be re-routed to the Cape of Good Hope.
UN Security Council Demands Houthis Stop Red Sea Attacks
The U.N. Security Council on Wednesday demanded Yemen's Houthis immediately end attacks on ships in the Red Sea and cautioned against escalating tensions while implicitly endorsing a U.S.-led task force that has been defending vessels.The demand came in a Security Council resolution that also called on the Houthis to release the Galaxy Leader, a Japanese-operated vehicle carrier linked to an Israeli businessman that the group commandeered on Nov.
Gale-force Winds and High Waves Leads to Tilting of Elevated Liftboat
Gale-force winds and high waves from a storm led to the listing of an elevated liftboat in the Gulf of Mexico, the National Transportation Safety Board (NTSB) said Wednesday. Damage to the vessel and cargo was estimated at $6.9 million.On November 20, 2022, the liftboat L/B Robert was reported to be listing alongside a stationary oil platform in the Gulf of Mexico about 80 miles southeast of Lake Charles, Louisiana.
US, UK Forces Shoot Down Houthi Missiles, Drones Targeting Ships in Red Sea
U.S. and UK forces shot down 21 drones and missiles fired by Yemen-based Houthis on Tuesday into the Southern Red Sea towards international shipping lanes, the U.S. military's Central Command said.U.S. Central Command said there were no injuries or damage reported, adding that this was the 26th Houthi attack on commercial shipping lanes in the Red Sea since Nov. 19.Iranian-backed Houthi militants have…
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.
US Trade Deficit Shrinks on Falling Imports
The U.S. trade deficit unexpectedly narrowed in November as imports of consumer goods fell to a one-year low amid slowing domestic demand, a trend that, if it persists in December, could result in trade having no impact on economic growth in the fourth quarter.The report from the Commerce Department on Tuesday also showed exports declined in November amid cooling demand overseas. Demand is slowing…
Baltic Dry Index Logs Biggest Fall in a Month
The Baltic Exchange's dry bulk sea freight index fell on Tuesday to a nearly seven-week low in its worst showing in more than a month, as rates across vessel segments hit multi-week lows.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 147 points, or 7.3%, to 1,875, hitting a fresh low since Nov. 23.The capesize index dropped by 350 points, or 9.7%, to 3,249, also logging its biggest daily fall since Dec.
IACS Launches New Piping Recommendation
The International Association of Classification Societies (IACS) has launched a new recommendation, 177, to enhance the quality of machinery piping systems in shipbuilding.Piping systems convey different fluids at various temperatures and pressures to all parts of the ship, including to nearly every enclosed space on a vessel. As such, and because these systems are a means through which many of a ship’s control systems operate…
War, Weather Put Ocean Shippers on Notice for Rough Seas in 2024
Recent hostilities in the Red Sea have thrown global shippers of vital goods for a loop - but it is hardly the only issue that big carriers are facing as 2024 kicks off.Giants like Maersk say the industry, which handles 90% of global trade, faces the possibility of significant disruptions, from ongoing wars to droughts affecting key routes like the Panama Canal. Complex vessel schedules are likely to be knocked out of sync for giant container ships…
Merchant Vessel Approached by Six Craft Near Yemen
Six small craft approached a merchant vessel about 50 nautical miles from the Yemeni city of Mocha on Saturday before leaving the area, the United Kingdom Maritime Trade Operations (UKMTO) organization said."The vessel and crew were reported safe," UKMTO added in an advisory note on the incident.Yemen's Iranian-backed Houthi militants have stepped up attacks on commercial vessels in the Red Sea in protest against Israel's war in Gaza.
Houthi Drone Boat Detonates in Red Sea a Day After US Warning
A Houthi drone boat ladened with explosives detonated in the Red Sea on Thursday but failed to cause any damage or casualties, the U.S. Navy said, as the Yemen-based group continued its attacks in defiance of international calls to stop.The latest attack came one day after 12 countries including the United States, Britain and Japan issued a joint statement cautioning the Houthis of unspecified "consequences" unless it halts its attacks, in what one U.S.
Ship Traffic Through Suez Canal Down 20% Due to Houthi Attacks
Shipping traffic through the Suez Canal fell 20% between Dec. 24 and Jan. 2 compared to a year earlier, according to the PortWatch platform, after shipping companies began re-routing vessels in response to attacks by Yemen's Houthis.From Dec. 15, when Maersk became the first shipper to announce diversions, until Jan. 2, the most recent date for which International Monetary Fund's PortWatch has data…
Chinese Shipyard Launches Cadeler’s Newbuild Offshore Wind Vessel
Cosco Shipyard in China has launched Cadeler’s newbuild vessel Wind Peak, designed to be able to transport and install up to seven complete 15 MW offshore wind turbine sets per load.The launching of Wind Peak is a critical milestone that marks the completion of the vessel’s hull, Cadeler said.Leading up to the launch is two years of intricate engineering and 18 months of construction of the P-class vessel.After the launching…