#Red Sea

Red Sea insurance costs soar as Houthi shipping threats loom

Red Sea insurance costs soar as Houthi shipping threats loom

The Sounion, which was struck on August 21 and laden with about one million barrels of crude oil, was towed without an oil spill

World’s largest solar microgrid rises along Saudi’s Red Sea

The Red Sea project is poised to be the world’s first fully clean energy-powered destination

Oman’s Hydrom signs green hydrogen projects worth $11bn

Oman’s Salalah port sees fall in container volumes

The port, which is Oman’s closest to the border with Yemen, handled 1.679 million shipping containers in the six months to June 30

Suez Canal

Suez Canal revenue drops as some shipping firms shun Red Sea

The Suez Canal, is a key source of foreign currency for Egypt, and authorities have been trying to boost its revenues in recent years

MAERSK-VESSELS

Maersk sounds alarm: Red Sea disruptions ripple across global shipping

Red Sea shipping disruptions having a ‘cascading impact’ said the shipping giant

Red Sea - shipping - logistics

How have global shipping firms reacted to Red Sea tensions?

The longer route around the Cape of Good Hope, to avoid attacks by Yemen’s Houthis in the Red Sea, has pushed up shipping costs as well as emissions

Rare LNG vessel sails through Red Sea, data shows

Asya Energy is the first LNG tanker to sail through the Strait since January, when LNG voyages through the Red Sea were first suspended

Red Sea

Shipping industry urges Red Sea action as Houthis sink second vessel

International naval forces have been deployed to provide defensive support for ships sailing through the Red Sea, but the attacks have increased significantly

Red Sea

Red Sea crisis pushing 47% crude oil, fuels around Africa

According to data provided by EIA, total US trade around the cape rose by about one-third, in the first six months of 2024

RED SEA - YEMEN COAST - MAERSK

Red Sea: Two merchant vessels targeted in Gulf of Aden

The Red Sea crisis has disrupted global shipping by forcing vessels to avoid the nearby Suez Canal and reroute trade around Africa

How DHL Supply Chain is supporting GCC’s logistics industry

Exclusive: Hendrik Venter on how DHL Supply Chain is supporting GCC’s logistics industry

The CEO for Europe Middle East & Africa (EMEA) tells us that the company is fostering its operations and logistics networks throughout the GCC region while leveraging its strategic partnerships

Red Sea - MAERSK

Shipping giant Maersk says Red Sea disruption could cut Asia-Europe capacity by 20%

Maersk’s fuel costs on the affected routes between Asia and Europe are now 40 per cent higher per journey

Red Sea

Red Sea tensions: Another cargo ship targeted in Gulf of Aden

The tensions in the region have led to a sharp drop in commercial vessel voyages through the Red Sea and Gulf of Aden

IMF cuts Middle East growth outlook on geopolitical tensions

IMF cuts MENA growth outlook on geopolitical tensions, trade disruptions

Gulf economies are seen growing 2.4 per cent this year, a downward revision of 1.3 percentage points from October

Fujairah marine fuel bunker sales hit new records

Sales for March in Fujairah climbed 10.7 per cent from February and were up 25.2 per cent from the same month last year

Red Sea

Red Sea crisis results in more container ship usage, adding to emission woes

The Red Sea crisis has put plans of some operators to replace aging fleets with newer more fuel-efficient ships on the backburner.

RED SEA - YEMEN COAST - MAERSK

Red Sea tensions: UK security firm says vessel targeted near Yemen’s Hodeidah

Yemen’s Houthis have staged attacks on shipping in the Red Sea region for months in solidarity with Palestinians in Gaza

Egypt raises $800m from hotels in divestment drive

IMF ties Egypt loan disbursements to currency flexibility

The IMF forecasts that Egypt’s inflation will remain high in the near term, with average inflation for the coming fiscal year, expected at 25.5%

IEA raises oil demand outlook again but still lags OPEC

IEA raises oil demand outlook again but still lags OPEC

Brent crude oil rose as much as 80 cents a barrel towards $85 after the IEA report was released, touching its highest since November

Egypt raises minimum wage by 50% as part of ‘urgent’ package

How big are Egypt’s economic challenges?

As many as 60 per cent of Egypt’s 106 million citizens are estimated to be below or close to the poverty line

RED SEA - YEMEN COAST - MAERSK

Tesla to Qatar Energy: How companies are responding to Red Sea tensions

From impacting the cost of freight to the cost of energy, tensions in the Red Sea are having a direct impact on global trade

shipping

Risk is the new normal in ocean shipping as Red Sea tensions reign: Experts

The Red Sea tensions have spurred cargo delivery disruptions and soaked up excess vessel capacity, raising global shipping costs

Red Sea

Ship sunk after Houthi attack could lead to environmental disaster in Red Sea

The Rubymar went down in the southern Red Sea late on Friday or early on Saturday

FedEx invests $350m in air, ground regional hub at DWC

Here’s why FedEx has invested $350m in Dubai logistics hub

The 57,000-square-metre facility incorporates advanced technologies that include automated sort systems to enhance the efficiency

Red Sea

Red Sea tensions: Cargo ship abandoned after Houthi Attack

The crew abandoned the ship early on Monday after seeking assistance from Djibouti authorities

Red Sea

Retailers demand more action from EU to resolve Red Sea crisis

Retailers calling for firm action include members such as supermarket giants Carrefour, Lidl, M&S, and Tesco

Red Sea shipping

Red Sea tensions to drive ocean freight shipping rates up by 243%

While the situation remains volatile and subject to change, the newly-released data is best indication of where the market is headed

Oil rig - OPEC

OPEC+ leaves oil production levels unchanged, to review production cut extension in March

OPEC said its “committee will continue to monitor” countries’ conformity with output decisions

red sea

Russian oil flows through Red Sea still face lower risks

Recently, four tankers carrying Russian Urals crude passed through the Bab-el-Mandab strait with another three heading south through the Red Sea

UK Foreign Secretary David Cameron

UK Foreign Secretary David Cameron in Oman as Red Sea tensions escalate

His visit to Muscat follows regional travel last week where he met with leaders in Israel, Qatar and Turkey