Cairo-based shipowner United Marine Egypt (UME) is expanding in the bulk cargo market with an order at China’s New Dayang Shipbuilding for two bulkers.

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.

Following the Houthi attack the 29 April MSC Orion which reportedly took place some 400 nm south of mainland Yemen, which could raise concerns about the ability of coalition forces to protect commercial vessels in a much wider theatre of operations.

Maersk has raised its 2024 earnings guidance as the prolonged crisis in the Red Sea supported rates in its ocean segment.

New rail link aims to provide logistical support to industrial and commercial ports in Saudi Arabia to boost competitiveness and support trade.