China concerned about Red Sea shipping attacks, envoy says An Israeli Navy missile boat is seen in the area of the Red Sea on Nov 1, 2023. [Photo/Xinhua] A Chinese envoy to the United Nations on Wednesday called for a halt to the attacks and harassment of civilian vessels and to respec...
The longer route around the Cape of Good Hope to avoid attacks by Yemen's Houthis has pushed up shipping costs, as about 12% of world total shipping traffic historically sailed through the Red Sea and Egypt's Suez Canal. About 8.7 MMbpd of crude and refined p...
Recent attacks on vessels in the Red Sea have led major shipping companies to halt shipments through the waterway which is a key route for oil, refined products, and other consumer goods. That’s raised the risk of disruptions to the transport of the world’s crude oil, and led to a ...
December 21, 2023 In a significant escalation of tensions, Yemen’s Houthi militia has expanded its threats to target ships sailing to Israel, causing disruptions and raising security concerns in the crucial Red Sea region. Recent attacks in the Bab–el–Mandeb Strait have prompted a warning from...
Carriers initially believed that the disruption to Red Sea shipping would be short lived and did not respond immediately to the surge in rates in late 2023. “Despite the influx of a massive 1.6 million teu in newbuilding capacity in the first half of 2024, carriers sought even more tonnage...
Container shipping through the Red Sea decreased by almost 30% in 2023 due to ongoing attacks by Yemen's Houthi rebels, according to the International Monetary Fund (IMF). The rebels have launched over 30 attacks on commercial shipping and naval vessels since November 19th, citing solidar...
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He underscored the Houthi group's ability to replenish its arsenal, evidenced by its sustained attacks on shipping lanes despite daily U.S. airstrikes. While Dashela noted the United States' reluctance to engage in a ground war in Yemen thus far, Yemeni political analyst Abdul-Raqeeb Hadiyani...
2023 ended with new disruptions for trade and supply chains following the security crisis in the Red Sea and there’s no end in sight yet. To avoid Houthi militant attacks on their vessels in the Gulf of Aden and the Red Sea, shipping companies and their clients continue to avo...
Australian mining giant BHP Group BHP.AX is diverting almost all of its shipments from Asia to Europe away from the Red Sea, the Wall Street Journal reported on Thursday. BHP was not immediately available for comment. Strikes on shipping in the Red Sea by the Iran-aligned Houthis who contro...