shipping News

US, UK Ship Investors Hit By Soaring Red Sea Insurance – Sources

War underwriters have raised the premiums they charge to U.S., British and Israeli firms by as high as 50% for ships transiting the Red Sea and some providers are avoiding such business due to targeting of the vessels by Yemen’s …

Chinese Ships Get Cheaper Insurance to Navigate Red Sea

Chinese-owned merchant ships are getting hefty discounts on their insurance when sailing through the Red Sea, another sign of how Houthi attacks in the area are punishing the commercial interests of vessels with ties to the west. The militants began …

Houthi Attacks in Red Sea Are Idling Car Factories and Delaying New Fashion

Car factories have idled in Belgium and Germany. Spring fashion lines are delayed at a popular British department store. A Maryland company that makes hospital supplies doesn’t know when to expect parts from Asia. Attacks on ships in the Red …

Chaos in The Red Sea is Starting to Bite into Companies’ Profits

With the Red Sea crisis roiling shipments of everything from cars to energy, it’s a matter of time before soaring costs and supply-chain strains show up in companies’ earnings reports. Several firms are already warning of the impact. Electric-vehicle maker …

Airstrikes on Yemen Bring New Level of Chaos to Shipping in the Southern Red Sea

The US and UK’s decision to hit back at Houthi militants after weeks of attacks on merchant shipping in the Red Sea has only escalated the chaos across the shipping industry, underscoring the threat of an enduring supply-chain crisis as …

Insurers Seek to Exclude US, UK Ships from Red Sea Coverage

Some ship insurers are starting to avoid covering US and UK merchant ships against war risks when they navigate the southern Red Sea, another sign of blowback since the two nations’ airstrikes on Yemen last week. Houthi militants have stepped …

Yemen’s Houthis Launch their Largest Red Sea Drone and Missile Attack, Though No Damage is Reported

DUBAI, United Arab Emirates (AP) — Yemen’s Houthi rebels fired their largest-ever barrage of drones and missiles targeting shipping in the Red Sea, forcing the United States and British navies to shoot down the projectiles in a major naval engagement, …

Georgia Agency Awards Contract to Raise Savannah Bridge to Accommodate Bigger Cargo Ships

SAVANNAH, Ga. (AP) — The Georgia Department of Transportation said Wednesday it has chosen a general contractor to oversee a $189 million project to raise Savannah`s towering suspension bridge so that larger cargo ships can pass underneath and reach one …

US Tries to Persuade Shippers to Sail Red Sea Despite Houthi Attacks

The US military is trying to reassure shipping companies that a multinational force is making it safe to sail through the Red Sea and Suez Canal even though attacks from Yemen-based Houthi rebels show no sign of stopping. The Pentagon …

Cargo Ship Picking Up Ukrainian Grain Hits Russian Floating Mine in the Black Sea, Officials Say

KYIV, Ukraine (AP) — A civilian cargo ship struck a Russian mine in the Black Sea near Ukraine’s Danube ports Thursday, injuring two sailors, officials and analysts said, in an incident that underscored the dangers faced by those exporting Ukrainian …