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.
U.S. President Donald Trump on Wednesday re-designated Yemen's Houthi movement, known formally as Ansar Allah, as a "foreign terrorist organization", the White House said.The move will impose harsher economic penalties than the Biden administration had applied to the Iran-aligned group in response to its attacks on commercial shipping in the Red Sea and against U.S.
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.
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
The cost of insurance for ships sailing through the Red Sea has nearly doubled after Yemen's Houthis attacked a tanker that appears to be leaking oil, with environmental fears growing for trade route, industry sources said on Wednesday.Iran-aligned Houthi militants first launched aerial drone and missile strikes on the waterway in November in what they say is solidarity with Palestinians in Gaza.
The European Union's mission in the Red Sea, known as Aspides, said on Wednesday there was no oil spill in the area of the MV Sounion tanker that was targeted recently off Yemen's coast.Aspides added that the Greek-flagged oil tanker was still anchored and not drifting.The Pentagon said on Tuesday the tanker was still on fire in the Red Sea and appeared to be leaking oil.
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
A Greek-flagged oil tanker carrying 150,000 tonnes of crude that was evacuated by its crew after being attacked in the Red Sea now poses an environmental hazard, the EU's Red Sea naval mission "Aspides" said on Thursday.Houthis, who control Yemen's most populous regions, said on Thursday that they attacked the Sounion oil tanker in the Red Sea