A Genco Shipping & Trading bulker is the latest vessel to be hit by a drone strike in the Red Sea.

Chinese yards accounted for 50% of 2023 world shipyard output on a compensated gross tonnage (CGT) basis, according to Clarksons Research.

Attacks by Houthi militia on vessels transiting the Red Sea continued on Tuesday with a Greek-owned vessels hit by a missile.

China was the world’s largest shipbuilding nation in 2023 across all three measures of output, new shipbuilding contracts and orders-on-hand. It was also achieved double-digit growth across all three in 2023.

A bulker owned by US-listed Eagle Bulk Shipping has been struck by an anti-ship ballistic missile according to US Central Command (US Centcom).

The US and UK have launched strikes against Houthi targets in Yemen to disrupt and degrade the capabilities of rebels to attack shipping in the Red Sea and protect global trade.

An apparently indiscriminate attack on commercial shipping lanes in the Red Sea was carried out on January 9 and thwarted by US and UK naval assets.

War in Gaza has so far led to attacks on merchant vessels transiting the Red Sea, but some experts are also concerned about the spread of vessel attacks to Somali pirates operating in the Gulf of Aden and Arabian Sea region.

Lemissoler Navigation and Shanghai Merchant Ship Design and Research Institute (SDARI) received ABS approval in principle (AiP) for their design of a 65,000 dwt methanol-fueled ultramax bulk carrier.