Shipping Industry in the Dark Over US-led Red Sea Navy Force
Shipping companies remain in the dark over a new international navy coalition being assembled by the United States to combat attacks in the Red Sea, with many vessels continuing to avoid the area or cancelling contracts, sources said on Wednesday.The sources, who include shipping and maritime security officials, say few practical details are known about the initiative launched on Tuesday by Washington or whether it will directly engage in the event of further armed attacks at sea.Iran-backed Houthi militants in Yemen have since Nov.
Markets Spike Following Houthi Attacks on Shipping
Continued missile attacks on merchant ships in the Red Sea have plunged supply chains into chaos, and consumers around the world will have to pay the price, according to Xeneta.Latest data from the industry analyst shows spot rates in the ocean freight shipping market spiked by 20% since Friday after major shipping liner companies such as Hapag Lloyd, MSC and Maersk announced they are avoiding the Red Sea amid the attacks by Houthi militia.Xeneta chief analyst Peter Sand said…
US Launches Multi-National Operation to Safeguard Red Sea Commerce
The United States on Tuesday launched a multinational operation to safeguard commerce in the Red Sea as attacks by Iran-backed Yemeni militants forced major shipping companies to reroute, stoking fears of sustained disruptions to global trade.The Houthi militant group, which controls vast amounts of territory in Yemen after years of war, has since last month fired drones and missiles at international vessels sailing through the Red Sea - attacks it says respond to Israel's devastating assault on the Hamas-ruled Gaza Strip.This week…
Photos: US Retrieves Suspected Chinese Spy Balloon Shot Down in the Atlantic
Photos released by the U.S. Navy on Tuesday show sailors collecting the remnants of a suspected Chinese spy balloon that was shot down by an Air Force fighter over the weekend off the coast of South Carolina.The U.S. military began collecting the debris after the high-altitude surveillance balloon was shot down by an F-22 fighter over the weekend at the orders of President Joe Biden. The balloon fell about six miles off the coast of Myrtle Beach, S.C., into about 50 feet of water.China has claimed that the balloon was a wayward “civilian unmanned airship” primarily conducting weather research.
Biden Introduces Buttigieg as Transportation Secretary
President-elect Joe Biden touted the diversity of his incoming administration as he introduced former rival Pete Buttigieg on Wednesday as his choice for U.S. transportation secretary.Buttigieg, the former mayor of South Bend, Indiana, would be the first openly gay Cabinet secretary confirmed by the Senate if he is approved.Appearing with Buttigieg in Wilmington, Delaware, Biden said the 38-year-old would confront the task of upgrading America’s aging infrastructure and restoring what he called “our crumbling roads…
US Will Work to Ensure Bab-el-Mandeb Strait Remains Open
The U.S. military will work with Gulf and European partners to ensure the strategic Bab el-Mandeb Strait at the tip of the Red Sea remains open to commerce despite fighting and instability in Yemen, the head of U.S. forces in the region said on Thursday. "We would work in conjunction with our GCC (Gulf Cooperation Council) partners to ensure that those straits remain open," U.S. Army General Lloyd Austin told a Senate hearing. "It is one of our core interests to ensure that we have free flow of commerce through both straits," he added, referring to Bab el-Mandeb and the Strait of Hormuz. (Reporting by David Alexander; Editing by Susan Heavey)
