Tag: Israel-Hamas Conflict

Industry associations BIMCO, ICS, CLIA, IMCA, INTERCARGO, INTERTANKO and OCIMF have revised the security guidance applicable to navigating in the Southern Red Sea and Gulf of Aden.

According to the International Monetary Fund (IMF) maritime container traffic through the Red Sea has fallen by almost 30% year-on-year, as a result of Houthi attacks on merchant ships off Yemen.

In a recent update on January 15, 2024, the operational status of ports in Israel was disclosed by UK P&I Club. 

Ongoing conflicts in the Red Sea have created challenges for global shippers of essential goods, but this is just one of the many issues confronting major carriers as 2024 begins, Reuters highlights.

According to Energy Information Administration (EIA), the price of Brent crude oil averaged $83 per barrel (b) in 2023, down from $101/b in 2022, a difference of $19/b after rounding.

The continuous attacks on commercial vessels transiting the Southern Red Sea are an alarming trend that has been troubling the industry, causing alternations in routes and disruptions in global supply chains.

Malaysia's government has issued a ban on Israeli-owned and flagged ships, as well as any vessels destined for Israel, from docking at its ports.

Both Maersk and Hapag-Lloyd have reported incidents on December 15th, where one of their container vessels was targeted by a missile near the Bab al-Mandab Strait.

Due to the ongoing security situation in Israel, there is an increased risk for vessels operating in and around ports in Israel and its territorial waters, the Liberian Ship Registry stresses in a new security advisory. 

Industry associations BIMCO, ICS, CLIA, IMCA, INTERCARGO, INTERTANKO and OCIMF have come together to publish security guidance applicable to navigating in the Southern Red Sea and Gulf of Aden.