Category: Red Sea
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Stage set for unified oil & gas rig moving service in Red Sea and Gulf of Suez
Stage set for unified oil & gas rig moving service in Red Sea and Gulf of Suez ABL, part of Oslo-listed global consultancy group ABL Group, has shaken hands with Egypt’s Petroleum Marine Services Co. (PMS) on the launch of a unified rig moving service in the Red Sea and Gulf of Suez, with the…
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Q&A: Crew welfare in conflict zones and legal risks
Q&A: Crew welfare in conflict zones and legal risks The ongoing Iran–Israel conflict and the volatile situation in the Red Sea and Strait of Hormuz have intensified scrutiny of maritime risk zones. While the industry addresses insurance implications and routing strategies, a less discussed but critical concern lies in employment law and crew welfare. David…
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Houthis claim they have sunk bulker Magic Seas
Houthis claim they have sunk bulker Magic Seas The 22 crew of the 2016-built, 63,000 dwt Liberian-flag bulker Magic Seas were today reported safely rescued after an attack 51 nautical miles southwest of Al Hudaydah, Yemen, by multiple small vessels who tha t opened fire with small arms and self-propelled grenades. The ship’s armed security…
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Op-Ed: Navigating opportunities in the 2025 insurance market
Op-Ed: Navigating opportunities in the 2025 insurance market By Simon de Burgh Codrington, Managing Director, Risk Strategies The marine insurance industry continues to navigate uncertain waters in 2025. Prices in the global marine cargo market are starting to ease. Importers and exporters now have more room to negotiate. Still, cargo theft is a growing problem,…
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Red Sea woes help Maersk achieve third-best financial year
Red Sea woes help Maersk achieve third-best financial year Red Sea woes have had the effect of blotting up container capacity and one of the largest containership operators of all, A.P. Moller – Maersk, reports strong financial results for 2024 with growth across all segments and significantly improved profitability with EBIT increasing 65% to $6.5…
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Houthis release crew of hijacked car carrier Galaxy Leader
Houthis release crew of hijacked car carrier Galaxy Leader Yemen’s Iran-aligned Houthis have released the crew of the Galaxy Leader more than a year after they seized the vessel off the coast of Yemen, Al Arabiya reports the Houthi-controlled Al Masirah TV as saying. NYK Lines car carrier Galaxy Leader hijacked The crew were handed…
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New Ambrey threat circular says Houthi attack risk continues
New Ambrey threat circular says Houthi attack risk continues In a new threat circular, maritime risk consultancy Ambrey notes that, in response to the Israel-Hamas ceasefire, the Houthis have announced a cessation of hostilities toward most shipping However, notes Ambrey, Israel-owned and -flagged shipping transiting the Bab el-Mandeb Strait continues to be targeted.. Merchant vessels…
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Ambrey: Sounion salvage successfully completed
Ambrey: Sounion salvage successfully completed U.K.-based maritime risk consultancy Ambrey has confirmed that the salvage of the MT Sounion has been successfully completed. As we reported at the time, the 163,000 dwt Greek-flagged Sounion was set ablaze following multiple Houthi attacks that began on August 21, 2024. Ambrey, which played a key role in the…
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CENTCOM forces strike multiple Houthi targets
CENTCOM forces strike multiple Houthi targets U.S. Central Command (CENTCOM) reports that U.S. forces conducted multiple precision strikes against Iran-backed Houthi targets in Sana’a and coastal locations within Houthi-controlled territory in Yemen, Dec. 30 and 31. On Dec. 30 and 31, U.S. Navy ships and aircraft targeted a Houthi command and control facility and advanced…