Container shipping rates for key global routes have soared this week, with U.S. and UK air strikes on Yemen stirring concerns of a prolonged disruption to global trade in Red Sea, one of the world's busiest routes, industry officials said on Friday.U.S. and British warplanes, ships and submarines launched dozens of strikes across Yemen overnight in retaliation against Iran-backed Houthi forces
A merchant ship sailing off Somalia has been hijacked by unknown raiders, Spain's defence ministry said on Tuesday, fuelling fears pirates are returning to the Gulf of Aden and Red Sea waters already plagued by a surge in attacks on shipping.A Spanish warship rushed to check on the Maltese-flagged vessel Ruen on Friday after reports it had been hijacked.
The Suez Canal Authority (SCA) and Maersk Training (MT) have entered into a landmark agreement to establish a Centre of Excellence focused on leadership and crisis management training for SCA employees. The agreement was signed at a ceremony attended by senior representatives from both organizations.
Ahmed Alkwrab thought his ordeal was over last June when he survived one of the deadliest shipwrecks ever recorded in the Mediterranean Sea and finally set foot on European soil.Hours after a fishing trawler carrying hundreds of migrants capsized, however, the Egyptian housepainter found himself being interrogated by Greek authorities who then charged him and eight others with smuggling and
The economic incentive to import oil from the U.S. Gulf Coast to Asia has closed as the cost of booking supertankers on the route has surged amid a jump in bookings for the vessels, traders said this week.With the arbitrage for U.S. shipments closed, Asian refiners may make up some of the difference with similar Middle Eastern crude oil after top regional producer Saudi Arabia cut their sales
The Baltic Exchange's dry bulk sea freight index .BADI gained for the sixth consecutive session on Thursday, more than doubling in November to hit an one-and-a-half year peak helped by mounting supply of tonnage and cargo demand.The overall index .BADI, which factors in rates for capesize, panamax, supramax shipping vessels, was up 241 points or 8.9% at 2,937.
French shipyard PIRIOU has delivered a second offshore patrol vessel to the Senegalese Navy.The vessel is part of the OPV 58 S class vessel program. The contract, signed in November 2019, covered the acquisition of three offshore patrol vessels. After the Walo, delivered last June, and while the Cayor is being fitted out in Concarneau, the Niani is now flying the Senegalese flag ahead of schedule.