Tag: Red Sea

The United Nations' maritime shipping regulatory agency stated on 18th March, that initiatives to mitigate environmental harm caused by a cargo vessel sinking after a Houthi missile strike and another vessel abandoned during a fiery assault are suspended until ship attacks diminish, Reuters highlights.

In this week’s “Shipping Number of the Week” from BIMCO, Shipping Analyst, Filipe Gouveia, examines the threat to shipping in the Red Sea and Gulf of Aden as well as off the coast of Somalia.

According to BIMCO, in recent months, Somali pirates have repeatedly attacked and hijacked a number of merchant vessels in international waters. These incidents serve as a grim reminder of the critical importance of BMP5 (Best Management Practices to Deter Piracy and Enhance Maritime Security in the Red Sea, Gulf of Aden, Indian Ocean, and Arabian Sea) in the shipping industry.

The sinking of the Belize-flagged, Lebanese-operated bulk carrier Rubymar off the coast of Yemen poses significant environmental risks following a Houthi missile attack.

International forces engaged in an operation to intercept drones in the Red Sea area following attacks by Yemen's Iran-aligned Houthis on the bulk carrier Propel Fortune.

The International Transport Workers’ Federation (ITF) has issued a statement in which it condemns in the strongest possible terms the attack on the MV True Confidence, which has claimed the lives of three innocent seafarers and left others wounded.  

Attacks in the Red Sea area have unfortunately resulted in the most feared upon escalation: the death of innocent seafarers. 

Egypt is actively exploring additional expansions of the Suez Canal to finalize a second channel, aiming to enhance shipping capacity and minimize disruptions that may impede traffic, Reuters highlights. 

In a recent market analysis, Sea-Intelligence underscores a notable decline in both reliability and average delays over the last two months, erasing the substantial progress made since 2022 following the challenges posed by the Covid-19 pandemic and the subsequent surge in container volumes.

The Rubymar, owned by the UK and previously targeted by Houthi militants, has reportedly submerged in the Red Sea, as announced by Yemen's internationally recognized government on 2nd March, Reuters highlights.