Trafigura is evaluating the security risks of future Red Sea voyages following an attack on the company's Marlin Luanda oil tanker by Yemen-based Houthi rebels.
Tags: Red Sea
Red Sea Oil Tanker Attack to Possibly Increase Insurance Costs and Cause Trade Disputes
A Greek oil tanker, the Sounion, was set on fire and left drifting in the Red Sea after an attack by gunfire from small boats off Yemen, raising environmental and insurance concerns.
Industry Groups Call for Action as Houthi Attacks on Red Sea Shipping Reach Crisis Levels
Industry groups are urgently calling for action to combat the escalating Houthi rebel attacks on merchant shipping in the Red Sea, following the recent sinking of a second vessel and over 70 drone and missile strikes since November.
Maersk Shipping Disruption Amid Houthi Attacks in Red Sea Could Force More Delays
Red Sea container shipping is experiencing increased disruption, according to Maersk, which predicts that capacity between Asia and Europe would be reduced by up to 20% in the second quarter.
Escalating Violence in Red Sea Raises Threatens Asia's Economic Growth
Projections indicate an up to a 0.5% reduction in economic growth and a 0.4% increase in inflation rates due to disrupted supply chains, especially impacting Southeast Asian nations reliant on exports.
Latest News
A British oil tanker was reported to be engulfed in flames in the Gulf of Aden after Houthi rebels hit it with a missile on Friday after transiting the Red Sea.
Qatar, one of the world's top LNG producers, is delaying some deliveries to Europe due to the Red Sea crisis.
The US has put Houthi rebels back on a list of terrorist organizations following the Yemen-based group's attack on another US-operated vessel in the Red Sea region.
The US military launched new strikes in Yemen on Tuesday, targeting anti-ship ballistic missiles in a part of the country controlled by Houthi rebels.
Oil prices surged over 3% on Wednesday following a warning from the US regarding Houthi militants' activities in the Red Sea.
Shipping giant Maersk has announced its readiness to resume sailing through the Red Sea following the launch of a US-led multinational naval operation.
Following a series of attacks on ships in the Red Sea by Iranian-backed Houthi militants, shipping giants Maersk and Hapag-Lloyd have rerouted their vessels, opting for the longer Cape of Good Hope route in South Africa.
Oil giant British Petroleum (BP) has temporarily halted all its tanker transits via the Red Sea after attacks on ships by Iranian-backed Houthi militants based in Yemen escalated.
Shipping giants Maersk and Hapag-Lloyd have temporarily suspended their container ship travel through the Red Sea and the Bab el-Mandeb Strait in the Middle East, citing security risks.
