Red Sea challenges lead to boxship drought for recycling yards

The Red Sea crisis and the higher freight and charter rates are discouraging owners from scrapping older boxships, resulting in a dearth of tonnage being sold for demolition, despite cash buyers offering higher prices.

While January saw 13 container ships of nearly 22,000 TEUs being torched, scrapping has slowed.

Just three boxships (MTT Singapore, MTT Tanjung Manis and Dong Fang Xing) were recycled in February and so far in March, just two container vessels (Far East Cheer and Mapocho) have been...

https://container-news.com/red-sea-challenges-lead-to-boxship-drought-for-recycling-yards/

Maersk sees Red Sea routings as still too risky

Maersk is to continue to avoid Red Sea routings of it its ships. In an update today, it said that it would continue to send ships via the Cape of Good Hope and around the Africa rather than through the Houthi-threatened Red Sea and Bab el Mandeb Strait. It noted that while it welcomed the EU ASPIDES security operation as a “very positive development to increase the safety in the region,” its internal analysis, as well as insight received from external sources, “still indicates that the risk...

https://www.marinelog.com/legal/safety-and-security/maersk-sees-red-sea-routings-as-still-too-risky/

REMINISCENCES | The lessons of “Supership” half a century on

Fifty years ago, the shipping “establishment” was plunged into angst and indignation by the publication of a book that opened up many of the mysteries of the modern maritime industry to critical public scrutiny. Noel Mostert’s “Supership” was the account of a voyage he had taken from North Europe...

https://www.bairdmaritime.com/ship-world/tanker-world/reminiscences-the-lessons-of-supership-half-a-century-on/

Air cargo market rides an incoming wave, but can it last?

The air cargo market has started the year on an apparent tear thanks to strong e-commerce volumes out of Asia and extended transits for ocean freight being rerouted around the Red Sea conflict zone, but whether the growth is sustainable or a product of low comparisons to last year remains an open question.

Last summer the industry was drifting at the bottom of a trough, but a swell of business in September turned into a wave that has carried into the first quarter. 

Shipping demand on airliners...

https://www.freightwaves.com/news/air-cargo-market-rides-an-incoming-wave-but-can-it-last

BIMCO analysis: 13% of world seaborne trade under attack from Houthis and Somali pirates

“Houthi attacks on ships in the Red Sea, coupled with a rise in piracy off the coast of Somalia, are disrupting global trade. In 2023 an estimated 13% of global seaborne trade transited through these areas. However, the attacks have reduced the number of ships transiting the area by 50%,” stated Filipe Gouveia, Shipping Analyst at BIMCO.

Since November 2023, the threat to shipping has increased as the Houthis started attacking ships in the Red Sea and the Gulf of Aden. Simultaneously, piracy...

https://container-news.com/bimco-analysis-13-of-world-seaborne-trade-under-attack-from-houthis-and-somali-pirates/

Houthis target Vietnamese-owned tanker, threaten attacks in Indian Ocean

The situation in the Red Sea gets no calmer. Today brought a report from UKMTO of a Houthi attack on a merchant vessel 76 nautical miles west of Al Hudayah. While UKMTO initially reported the master as saying that the vessel had been struck and had sustained some damage, in a subsequent update, the master reported that, upon a daylight inspection, it was found that the vessel had sustained no damage and was proceeding on its voyage.

UKMTO WARNING

INCIDENT 052 – ATTACK – UPDATE 002https://t.co/...

https://www.marinelog.com/legal/safety-and-security/houthis-target-vietnamese-owned-tanker-threaten-attacks-in-indian-ocean/

OceanScore analysis shows near-tripling of EU ETS costs due to Red Sea crisis

Persistent missile attacks by Houthi rebels on ships plying the Red Sea route have led to soaring emissions liabilities for shipping companies under the EU ETS as lengthy voyage diversions for Europe-bound vessels have multiplied fuel consumption, according to OceanScore.

An increasing number of commercial ships have been taking the alternative route to Europe via the Cape of Good Hope – adding around 9000 nautical miles, or 80%, to the distance sailed – to avoid the Houthi threat as over 50...

https://container-news.com/oceanscore-analysis-shows-near-tripling-of-eu-ets-costs-due-to-red-sea-crisis/

Red Sea developments fail to overcome seasonal lull as rates correct

With the Chinese New Year over and liner operators adjusting their operations to accommodate the diversions round the Cape of Good Hope, rates have peaked and are likely to face downward pressure until the next pick-up in the third quarter, according to the Baltic Exchange’s report.

Freightos’ research lead, Judah Levine, one of the report’s writers, noted that rates from Asia to North Europe and the Mediterranean declined throughout February. North Europe rates decreased by 17% to US$4,553/FEU...

https://container-news.com/red-sea-developments-fail-to-overcome-seasonal-lull-as-rates-correct/

Royal Danish Navy frigate shoots down Houthi drones targeting Red Sea shipping

The Danish Ministry of Defence has confirmed that a Royal Danish Navy frigate successfully shot down four unmanned aerial vehicles launched by Yemen’s Houthi rebel group against commercial and coalition naval ships in the southern Red Sea on Saturday, March 9. At around 04:00 local time on...

https://www.bairdmaritime.com/work-boat-world/maritime-security-world/naval/ships-naval/royal-danish-navy-frigate-shoots-down-houthi-drones-targeting-red-sea-shipping/

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