The situation in the Red Sea is a worrying development for international shipping and trade. The US-led initiative to form a multinational naval force could help to deter further attacks and ensure the safe passage of vessels.

The body has been found of a crew member missing from a tugboat that sank in the Suez Canal following a collision with a tanker.

The Suez Canal Authority (SCA) is granting rebates of up to 75% for product tankers transiting the waterway while on voyages between the US Gulf and Caribbean ports and Asia.

The Suez Canal Authority (SCA) released an updated version of the fixed rebate scheme last week.

A Hong Kong-flagged bulker that grounded in the Suez Canal blocking the key waterway for several hours on Thursday morning has been successfully refloated.

An incident involving an LNG tanker which broke down in the Suez Canal on Wednesday has been resolved.

Egypt’s Suez Canal Economic Zone (SC Zone) has signed a contract with Kuwaiti infrastructure and supply chain services provider, Agility, to develop and operate two customs and logistics centres.