Seafarers covered by International Bargaining Forum (IBF) agreements can refuse to sail through the Southern Red Sea and Gulf of Aden, but it takes a high level of pre-planning according to ITF head Stephen Cotton.
The shipping industry has united in calling for the immediate release of 25 seafarers on board the Galaxy Leader held hostage by Houthi Rebels for three months now.
US Central Command (Centcom) announced its latest success in capturing arms destined for the Houthi Movement, however, attacks continue with a strike against a Greek ship on 15 February.
Diversions from transiting the Red Sea to avoid Houthi attacks have significantly strengthened ton mile demand to the benefit of investors listed product tanker owners.
Singapore yard group Seatrium Limited is to install a full-scale 7MW carbon capture and storage (CCS) system from Wärtsilä on board the 2019-built ethylene carrier, Clipper Eris, owned by Norwegian shipowner, Solvang.
US shippers are diverting east coast cargo, already shifted from the Panama Canal to via Suez, to west coast ports, boosting southern California port volumes and raising box leasing prices through the roof.
Over 50 vessels attacked by Houthi rebels in the Red Sea, thousands of ships diverted via the Cape of Good Hope, and billions of dollars of trade disrupted in the Red Sea crisis.