Vessel attacked by Houthis is in risk of sinking
According to international news sources, the Houthis claim that the Belize-flagged cargo ship ship they attacked on February 18, is at risk of sinking.
Read moreAccording to international news sources, the Houthis claim that the Belize-flagged cargo ship ship they attacked on February 18, is at risk of sinking.
Read moreThe World Shipping Council (WSC) expressed gratitude to EUNAVFOR on the launch of Operation ASPIDES, a defensive maritime security operation to safeguard freedom of navigation in the Red Sea - and adjacent international waters.
Read moreIn response to the persistent attacks by Houthis in the Red Sea area, international organizations with significant influence are actively seeking solutions on multiple fronts.
Read moreAccording to GMS's latest weekly ship-recycling report, despite Chinese New Year Holidays, a pervading theme of an unrelenting dearth in the overall availability of tonnage across global ship recycling markets has been enduring for several quarters now, resulting in another dry and dreary week of market inactivity and silence across all recycling destinations.
Read moreYemen's Houthis have claimed responsibility for a missile attack on the Barbados-flagged bulk carrier "Lycavitos" in the Gulf of Aden, as Reuters reports.
Read moreAdditional grain vessels have been rerouted from the Suez Canal to take routes around the Cape of Good Hope the previous week due to ongoing apprehensions about attacks on ships in the Red Sea, Reuters highlights.
Read moreAccording to news, the Houthis, supported by Iran, have asserted accountability for a dual missile assault on a freight vessel in the Red Sea on 12th February. This incident marks the most recent attack since November as they continue to enforce a blockade on the crucial trade route.
Read moreOn its latest weekly ship-recycling report, GMS finds that, despite the Pakistani & Bangladeshi markets stabilizing & displaying a far greater aggression at the bidding tables over the last 5 weeks (that too at ever improving rates), in addition to the long awaited Chinese New Year holidays that have finally descended across the world, it has been a remarkably quieter start to 2024 for ship recycling than many had anticipated.
Read moreAccording to Bloomberg, merchant ships owned by China are receiving substantial reductions in their insurance premiums while traversing the Red Sea. This development underscores the impact of Houthi attacks in the region, affecting the business interests of vessels linked to Western entities.
Read moreThe International Union of Marine Insurance (IUMI), confirmed that the global marine insurance market is continuing to support trade in the Red Sea and the Ukraine/Black Sea area, at its annual winter meeting in London.
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