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Ocean Transportation: Page 4
Coalition Moves to Counter Resurgence of Piracy
Although the coalition's efforts were largely successful in suppressing piracy over the last decade, renewed global instability has allowed the threat to reemerge.
Houthis Attack Another Saudi Ship in Red Sea
A spokesperson for the Houthis said on social media on August 17 that the group had struck a Saudi military vessel and four escort ships at Yemen's Port of Mokha.
Covert Mideast Oil Flows Are Keeping Global Prices in Check
The trade of ferrying oil through the Strait of Hormuz undetected to transfer the barrels onto tankers in the Gulf of Oman is running at full tilt, sources say.
Maersk Capitalizes on 'Heightened Volatility' as Rates Surge
The ocean carrier brought in $15.8 billion in revenue in Q2, up from $13.1 billion a year earlier, while operating profit nearly doubled year-over-year to $1.6 billion.
Panama Canal Backlogs Swell as Water Levels Fall
Around 113 vessels were waiting to transit the Panama Canal as of August 3, compared to just 40 vessels that were in line in early January.
Houthi Strike in Bab al-Mandab Strait Kills Six
Houthi rebels reportedly hit a cargo ship with three ballistic missiles, in the first deadly attacks against commercial vessels in the region since the start of the Iran war.
U.S. Sees Iran War Oil Supply Disruptions Lasting Through 2027
As the conflict extends into a sixth month, consumers around the world are once again facing the prospect of higher fuel prices and inflation.
U.S. Extends Jones Act Waiver 90 for Days
Unlike the previous extensions, the Pentagon will consult with the U.S. Department of Transportation Maritime Administration to decide which voyages are exempt from the Act.
Turkey Delays Black Sea Ship Access After Surge in Attacks
The latest delays threaten to add a fresh complication to global trade at a time when oil flows are already being significantly disrupted by the war in Iran.
Iran Seeks to Bar U.S. Ships as Hormuz Deal with Oman Advances
Both U.S. and Iranian officials have been signaling in recent days that some kind of accord on Hormuz is close.
Mexico to Invest $2.2B in Oaxaca Infrastructure
The investment emphasizes the importance of the Interoceanic Corridor of the Isthmus of Tehuantepec.
UAE Defies Hormuz Risks to Keep Crude Flowing to Global Market
The stop-start nature of negotiations over reopening the Strait of Hormuz in recent months means analysts and traders expect shuttling to continue in some form.
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