The Middle East war intensified on Tuesday with Iranian-backed Houthis in Yemen launching strikes on several Saudi cities, further embroiling a U.S. ally in the conflict, while U.S. forces hit multiple Iranian oil tankers and Iran targeted a U.S. base in Jordan.The Houthis attacked four cities in the south of Saudi Arabia, wounding 73 people and setting oil installations ablaze in what appeared to be a major expansion of the six-month-old war.As global oil markets were pricing in the Saudi attacks, the U.S.
Hapag-Lloyd is working with the Israeli government on improvements to its proposed $4.2 billion cash purchase of ZIM Integrated Shipping Services, the German shipping group said on Monday.The proposed deal has faced heavy opposition in Israel, including ZIM's workers, Defence Minister Israel Katz and other government officials, who argue that it undermines national security by transferring Israel's shipping to a foreign company."We are now developing an improved proposal designed to further strengthen Israel's maritime security and independence," said Hapag-Lloyd CEO Rolf Habben Jansen.
Chicago wheat futures jumped on Tuesday as hopes faded for a U.S. diplomatic effort to end the war in Ukraine, which has disrupted Black Sea grain shipments, analysts and traders said.Corn and soybean futures chopped up and down as traders adjusted positions ahead of Friday's U.S. Department of Agriculture supply and demand report.The most-traded wheat contract on the Chicago Board of Trade was 4-3/4 cents higher to $7.38-3/4 per bushelas of 11:00 a.m. CT (1600 GMT). It had jumped as high as $7.63 in earlier overnight trade.CBOT corn fell 2-3/4 cents to $5.
Oil prices rose to a six-week high on Tuesday after Iran-backed Houthis in Yemen attacked Saudi energy facilities, setting oil installations ablaze and threatening a major expansion of the six-month-old Middle East war.Brent crude futures rose 70 cents, or 0.7%, to $97.70 a barrel at 10:56 a.m. EDT (1456 GMT), while U.S. West Texas Intermediate (WTI) crude rose $1.21, or 1.3%, to $92.69. That puts Brent on track for its highest close since July 23 and WTI on track for its highest close since June 4.The Houthis attacked four cities in the south of U.S.
Greece finalised a deal on Tuesday for the purchase of two Bergamini class frigates from Italy, its defence ministry said, as the NATO country looks to modernise its armed forces.Greece agreed last year a plan to buy the two used Bergamini class frigates from Italy and kept an option to buy two more.Defence Minister Nikos Dendias and Italian counterpart Guido Crosetto the "implementing arrangement" in Rome, the Greek defence ministry said in a statement.It did not give the value of the transaction, but Greek media said it could amount to between €500 million ($581.50 million) and €600 million.
Yemen's Tehran-backed Houthis attacked four cities in the south of U.S. ally Saudi Arabia on Tuesday, wounding more than 70 people and setting oil installations ablaze in what appeared to be a major expansion of the six-month-old Middle East war.The Houthis, who control most of Yemen's populated areas including the capital, said they had launched a broad operation deep into Saudi territory. They used drones and missiles to strike a Saudi airbase in the southern city of Khamis Mushait, and targets belonging to Saudi Arabia's state oil company in nearby Abha, Najran on the Yemeni border
Lumitec, a designer and manufacturer of environment LED lighting solutions, has announced a new enhancement to its Poco Digital Lighting Control system, the Channel Expander Feature.This latest addition expands system flexibility and scalability, empowering boat builders, integrators, and vessel owners to manage more complex lighting configurations with ease.At the core of this update is the ability for Poco modules to communicate over a NMEA 2000-based network, unlocking new system architecture possibilities.
New Pacific Industrial (NP) has launched its first shipbuilding program with the construction of two 122-foot American Class tugboats for American Marine Corporation (AMC) at its Vancouver, Washington waterfront facility. Designed by naval architecture and marine engineering firm Glosten, the vessels also represent American Marine's first new tugboat construction as the company marks 50 years in business.Glosten is providing the vessel design and engineering package based on its CT-120, an oceangoing line-haul tug concept developed for long-distance towing and demanding offshore operations.
Inmarsat Maritime, a Viasat company, has secured Cyber Security Type Approval from Bureau Veritas (BV) for its NexusWave multi-network maritime connectivity service, following an assessment against the International Association of Classification Societies' (IACS) Unified Requirement E27.The approval follows a ClassNK Cyber Security Type Approval against the same IACS requirement earlier in 2026, adding another independent assessment of the security controls incorporated into NexusWave.
Kongsberg Maritime has entered into an agreement to acquire Finnish azimuth propulsion specialist Steerprop, strengthening its position in the Arctic and high ice-class vessel market.Steerprop designs and manufactures azimuth propulsion systems for icebreakers, polar research vessels, offshore support vessels and other demanding applications. It has an installed base of more than 400 vessels globally and a significant order backlog, with the majority linked to Arctic and ice-class projects.
Oil prices hit multi-week highs on Tuesday after Iran-backed Houthis attacked Saudi energy facilities and Tehran threatened the United States with "economic warfare".Brent crude futures LCOc1 were up $2.00, or 2.06%, at $99.00 a barrel by 0800 GMT. U.S. West Texas Intermediate crude CLc1 was at $94.41 a barrel, up $2.93, or 3.2%.Brent earlier rose to as much as $99.22 a barrel, its highest since July 24, while WTI reached $94.60 a barrel, its highest since June 8.
Iran threatened the United States with "economic warfare" on Tuesday and said it had fired an advanced missile at U.S. warships, underscoring the risks of further escalation in the war only days after both sides traded blows again.The six-month-old war has been marked by a cycle of pauses followed by periodic flare-ups, with the U.S. last reporting attacks on Iranian targets on Saturday, when U.S. forces struck three Iranian oil tankers. Iranian state media on Sunday reported that Iran fired the Qassem Basir missile.Despite U.S.