A Houthi drone strike on an MSC container ship in the Indian Ocean has led to EU Forces advising shipping to avoid the Western Indian Ocean and the Gulf of Aden.

The Ministry of Energy and Infrastructure of the United Arab Emirates (UAE) and the Panama Maritime Authority (AMP) have inked a Memorandum of Understanding (MoU) giving new incentives to vessels flagged in Panama.

One of the world’s largest offshore vessel owners Tidewater has reaped the benefits of consolidation at a time when the market was in a lengthy downturn and remains hungry for more.

In-situ and in-workshop propeller repair capacity has been expanded at Drydocks World with enhanced fabrication, laser pitch checking and blade profiling competencies.

Container line Maersk says the risk area from Houthi attacks has expanded further offshore lengthening the rerouted voyages and increasing costs.

Namibia, a potentially energy-rich West African country, could stimulate new crude oil trades for tankers including VLCCs and Suezmax vessels by the end of this decade.

EU naval forces have warned in a surge of events by Somali pirates that have combined with the end of the monsoon season could result more attacks on shipping.