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.
Strength in the fundamentals of the tanker market are seen in the coming year as the sector continues to benefit from geopolitical turbulence and resulting disruption.
Maritime Hub Abu Dhabi has been officially launched to promote public-private sector co-operation and sustainability goals.
Houthi rebel leader Muhammad Ali Al-Houthi has ordered his forces not to fire on vessels transiting the Red Sea which declare they have no connection to Israel.
After a disappointing year the dry bulk market picked-up in the last two months of 2023, but the question is will this upturn continue in 2024?
As more and more ships divert from the Red Sea over the threat from Houthi rebels opinion writer Michael Grey warns the situation should not be allowed to drift on.