After coalition forces pounded Houthi targets questions are being asked as to whether this action itself constitutes an escalation of what started as a localised conflict in Gaza and Israel, into one with far wider implications for international...

Shipping companies have placed significant orders for containers in recent months as Red Sea attacks effectively soak up box capacity.

Spot container freight rates jumped another 15 – 16% over the last week as shippers continue to react to disruption caused to shipping by attacks in the Red Sea.

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.

The UK Maritime Trade Operations (UKMTO), which advises vessel operators on incidents involving shipping, has reported that up to five armed masked men boarded a tanker in the Gulf of Oman in the early hours of this morning.

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.

Container spot freight rates between Asia and Europe jumped 60% in the space of two weeks and there have even been sharp increases on trades such as Asia – US West Coast which are not directly affected by the Red Sea crisis.

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.

Nakilat has ordered six new gas carriers to meet its forecasts of continued expanding demand for gas transportation.