A recent U.S. military strike on Ras Isa’s fueling infrastructure killed at least 80, raising concerns about seafarer safety at Ras Isa Port amidst ongoing clashes. The UKMTO warns vessels face significant risks, advising ships to reconsider operations near ports impacted by military action. The situation remains tense following a ceasefire announcement.
Global marine fuel sales saw a significant increase in 2024 due to Yemen’s Houthis attacks, leading to rerouted vessels around southern Africa. Singapore and Fujairah experienced record-high volumes, while Rotterdam saw a 12% rise in sales. Diversions to longer routes boosted fuel demand, with hopes of a return to the Red Sea route following a Gaza ceasefire.
Yemen’s Iran-backed Houthis, led by Abdulmalik al-Houthi, have threatened to launch attacks on Israel if it resumes its assault on Gaza. The group has previously targeted Israeli vessels in solidarity with Gaza’s Palestinians. Al-Houthi stated they are prepared to escalate against Israel if the situation in Gaza worsens.
In 2025, container growth dynamics are set to continue, but challenges loom with India’s international relations. Despite potential hindrances, trade growth is expected, especially in Europe and the USA. MSC plans to expand services in response to increased trade, utilizing Vizhinjam as an anchor. However, port congestion and infrastructure improvements remain critical issues.
The UK Maritime Trade Operations agency reported an incident where a vessel was approached by an armed small craft near Yemen. Despite the alarming situation, all crew members remained safe. The incident underscores the risks faced by vessels in high-risk areas and the importance of maintaining vigilance and security protocols.
IMO Secretary-General Arsenio Dominguez recently visited countries in the Red Sea area to address the current situation and show support for freedom of navigation. He expressed concern for innocent seafarers, particularly those held captive on the MV Galaxy Leader by Yemen’s Houthis. Dominguez highlighted the impact of continuous attacks on ships and seafarers.
In a recent statement, Yemen’s Houthi rebel group announced their intention to target ships previously owned by Israeli companies, even after being resold. This expands their potential targets in missile attacks on civilian shipping in the Red Sea. Despite claims to only target vessels linked to Israel, they have attacked ships with no clear ties.
A merchant vessel reported two explosions near Yemen’s Al Dhubab, with a third explosion confirmed later. The ship and crew were safe, proceeding to their next port. Unclear if incidents are connected. Concerns raised about maritime security in the region. Authorities to investigate for safety measures in the Red Sea corridor.
As winter approaches, ships transporting Russian LNG to Asia are choosing longer routes around Africa’s Cape of Good Hope instead of the Arctic shore. The new Arctic LNG 2 project faces a shortage of ice-class carriers, leading to a shift in navigation routes. Geopolitical factors and ice formation are also impacting shipping decisions.
A Liberia-flagged tanker was struck by an unidentified projectile in the Red Sea, sustaining minor damage but no casualties. The incident occurred near the Yemeni port of Hodeidah. The vessel, en route from Jeddah to Muscat, was targeted by Houthi fighters. Despite the attack, the crew is safe and the tanker is continuing its journey.
A Greek shipping company executive received a threatening email warning of potential attacks on one of their vessels by Yemen’s Iranian-backed Houthi militia. The message stated that the ship had violated a transit ban by docking at an Israeli port, escalating tensions in the Middle East..
This week’s maritime news highlights significant developments from 02 Sep. to 08 Sep. 2024. Key topics include India’s ₹25,000 crore Maritime Development Fund to boost shipbuilding, recovery in dry cargo shipping, innovations in marine fuels, and updates on the Red Sea crisis. Environmental challenges and Seychelles’ efforts against maritime crime are also covered.
India’s maritime trade is unaffected by a container shortage, according to Minister Sarbananda Sonowal. The Red Sea crisis caused global shipping disruptions, leading to longer transit times and increased costs. Sonowal proposed Indian entities owning containers as a solution. Port capacities have expanded significantly, with a total increase of 87.01%. The government remains committed to improving maritime infrastructure and trade operations.
The Iranian military intercepted the MSC Aries, a Portuguese-flagged cargo ship, near the Strait of Hormuz. With 17 Indian crew members on board, Foreign Minister Amir-Abdollahian allowed Indian authorities to meet them. The Mediterranean Shipping Company is working with Iranian partners to release all 25 crew members, including nationals from India, Pakistan, Russia, Estonia, and the Philippines.
Xeneta’s ocean freight rate benchmarking platform uses 400 million crowdsourced data points, with the latest forecast based on rates received for the first week of February. Rates from the Far East to the Mediterranean and Northern Europe are expected to rise by 11% and 8% respectively, with the largest increase in rates from the Far East to the East Coast of the United States. Peter Sand, chief analyst at Xeneta, anticipates continued rate rises through February, with early signs of potential factors that could cause rates to fall again after the peak of the Lunar New Year.
