Bahri has confirmed an attack earlier this week on one its VLCCs by Houthi rebels in the Bab al-Mandab Straits, but a wider threat to commercial shipping is not seen.

The US Transportation Command (Transcom), a command of the US Department of Defence [DOD], has confirmed a large, multi-year contract award to Crowley Logistics, to provide transportation and related services supporting DOD activities in the US and Canada. 

The South Korean car carrier vessel Morning Compass has been released by Libyan militants after being held captive for more than two days. 

The Eukor car carrier was seized by Libyan militants off Ras Al-Hilal on Friday last week after failing to heed warnings that it was sailing in restricted waters, according to media reports.  

There is an unspoken rule in shipping that a terrible market and declining values, which will be a disaster for some, will mark an opportunity for others. There are owners who have made a career out of such opportunism, always maintaining cash in the bank explicitly for such a purpose and we can see them at work now, sniffing out the indebted and spending their money wisely.