The prospect of a large scale return of container ships to the Red Sea following the announcement of a ceasefire between the US and Houthi militia in Yemen would flood the market with shipping capacity and cause a global collapse in freight rates, but the situation remains far from certain.
Six foreigners were killed on Thursday when a tourist submarine sank off Egypt's Red Sea resort city of Hurghada, the local governor's office told Reuters, without confirming the nationalities of the victims.The Russian consulate in Hurghada said the submarine, named "SINDBAD", had 45 Russian tourists on board in addition to crew members.
The crew of the Hong Kong-flagged ASL Bauhinia have abandoned the container ship in the Red Sea after it caught fire on Tuesday, two maritime sources said, adding the cause of the incident was not immediately clear.The crew were rescued by another vessel and are safe, the sources said, adding that the incident took place in the open sea off Yemen.
Two of the world's top shipping companies, Maersk and Hapag-Lloyd, said on Thursday they did not see an immediate return to Red Sea after the ceasefire between Hamas and Israel was announced.Both companies said they would be closely monitoring the situation in the Middle East and would return to the Red Sea once it was safe to do so."The agreement has only just been reached.
A.P. Moller-Maersk expects strong demand for shipping goods around the globe to continue in the coming months, though does not expect to resume sailing through the Suez Canal until "well into 2025".Attacks on vessels in the Red Sea by Iran-aligned Houthi militants have disrupted a shipping route vital to east-west trade
On a warm spring night in Athens, shortly before midnight, a senior executive at a Greek shipping company noticed an unusual email had landed in his personal inbox.The message, which was also sent to the manager's business email address, warned that one of the company's vessels travelling through the Red Sea was at risk of being attacked by Yemen's Iranian-backed Houthi militia.
The Greek-registered oil tanker MV Sounion, which was hit by Houthi militants in the Red Sea last month, has been successfully towed to a safe area without any oil spill, the EU's naval mission in the Red Sea Aspides said on Monday.(Reuters - Reporting by Renee Maltezou; Editing by Hugh
The negative impact on maritime shipping and global supply chains from attacks in the Red Sea continues to intensify as traffic is rerouted away from the Suez Canal, Danish shipping company A.P. Moller-Maersk said on Thursday.Attacks in the Red Sea by Iran-aligned Houthi militants have disrupted a route vital to east-west trade, with prolonged rerouting of shipments
Three fires have been observed on board a Greek-flagged oil tanker in the Red Sea, The United Kingdom Maritime Trade Operations (UKMTO) said on Friday, one day after it was evacuatedby its crew after being attacked by Yemeni Houthi militants.The Houthis, who control Yemen's most populous regions, said on Thursday that they attacked the Sounion oil tanker in the Red Sea
The first liquefied natural gas (LNG) tanker since January is sailing through the Red Sea, just days after Yemen-based Houthi militants sank their second vessel in attacks begun last November.The vessel, Asya Energy, passed Yemen, travelling through the Bab al-Mandab Strait on Tuesday, shiptracking data from LSEG and Kpler showed
Shipping group CMA CGM benefited in the first quarter from a rebound in demand for consumer goods and higher freight rates linked to Red Sea disruption, but expects an influx of new ships to weigh on the market later in the year, it said on Friday.France-based CMA CGM, the world's third-largest container line, reported first-quarter net profit of $785 million
Yemen's Houthis said on Wednesday that they had targeted a U.S. warship and a vessel called "Destiny" in the Red Sea, part of an ongoing campaign of attacks that the Iran-backed group says is designed to show solidarity with the Palestinians in Gaza.In a televised speech, the Houthis' military spokesman Yahya Sarea said they had targeted an American destroyer called "Maysun" in the Red Sea with