Houthi militia are increasingly targeting US and UK-owned vessels transiting the Red Sea with at least three ships from the two countries hit by missiles in the last two weeks, while several others have come under fire.

Middle East hostilities and decisions by many owners to re-route ships around the Cape of Good Hope is shoring up markets and keeping freight rates above expectations, which does not equate to good news for ship recycling markets.

The US and UK launched further strikes against Houthi sites in Yemen and refuted claims of a successful attack on a US heavy lift vessel.

As Houthi attacks on shipping extend beyond container ships, an analysis has shown the global bulk trades most reliant on the Suez Canal.

Japan’s K Line is expanding its fleet dry bulk flee with an order at a Japanese yards for methanol-ready ships.

The Chinese shipyard New Dayang Shipbuilding has won its first order from Japanese client for the construction of two 64,100 dwt bulkers.

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.