New sanctions by the U.S. Treasury’s Office of Foreign Assets Control (OFAC) have revealed that Houthi leaders actively coordinated with Russian and Chinese officials to ensure their vessels would not…
red sea shipping
Suez Canal Chief Says Red Sea Crisis Did Not Create Sustainable Route to Replace Canal
CAIRO, Feb 19 (Reuters) – Suez Canal Authority Chairman Osama Rabie said on Wednesday that the Red Sea crisis did not create a sustainable route to replace the canal, adding that there were positive indicators…
South Korean Shipping Giant HMM Posts 500% Operating Profit Surge Amid Market Upheaval
South Korean shipping giant HMM delivered strong financial results in 2024, with revenue reaching KRW 11,700 billion (USD $8 billion) and operating profit hitting KRW 3,513 billion (USD $2.3 billion)…
Maersk: New U.S. Tariffs and Red Sea Crisis Shaping Global Maritime Trade in Early 2025
Major geopolitical events and policy changes are significantly impacting global maritime trade in early 2025, with new U.S. tariffs and ongoing Red Sea security concerns creating ripple effects across shipping…
Containership Abandoned in Red Sea After Fire, Crew Safely Rescued
The Hong Kong-flagged container ship ASL Bauhinia was abandoned in the Red Sea on Tuesday after catching fire, with all crew members safely rescued. The 1,930-TEU vessel, built in 2022,…
https://gcaptain.com/containership-abandoned-in-red-sea-after-fire-crew-safely-rescued/
Oil Tankers Back Up Near Yemeni Port After Israel Hits Tugs
(Bloomberg) — An unusually large flotilla of merchant vessels has backed up near Yemen’s Ras Isa port in the Red Sea after Israeli air raids damaged the tugboats needed to…
https://gcaptain.com/oil-tankers-back-up-near-yemeni-port-after-israel-hits-tugs/
Red Sea Diversions Cost Egypt $7 Billion in Lost Canal Revenue
Red Sea disruptions — a consequence of Houthi maritime attacks — have cost Egypt at least $7 billion in Suez Canal revenue this year, the country’s presidency said in a statement Thursday.
https://gcaptain.com/red-sea-diversions-cost-egypt-7-billion-in-lost-canal-revenue/
Houthis Plan Red Sea Security Webinar… Yes, Really
After a year of drone and missile attacks against merchant and naval vessels, the Iranian-backed Houthi rebel group is now extending an olive branch of sorts—by planning a seminar and…
https://gcaptain.com/houthis-plan-red-sea-security-webinar-yes-really/
Houthis Claim New Attacks on ‘American Supply Ships’ and Destroyers in Gulf of Aden
The Iran-backed Houthis have announced the targeting of three American supply vessels and two destroyers in the Gulf of Aden. The alleged incident occurred as the vessels were reportedly departing…
Explosive-Packed Drone Boat Strikes Oil Tanker in Red Sea
(Bloomberg) — An explosive-laden drone boat slammed into an oil tanker as it sailed past the coast of Yemen, a sign Israeli airstrikes haven’t deterred the country’s Houthi militants from…
https://gcaptain.com/explosive-packed-drone-boat-strikes-oil-tanker-in-red-sea/