Singapore-based Wealth Holdings has added a third multipurpose newbuilding programme this year, signing for up to six 25,000 dwt ships at China’s Hubei Guangji Green Energy Shipbuilding. The deal…
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Rapid advance of Iran-backed force threatens key alternative shipping route to Strait of Hormuz.
Shipping has always made money from risk. This week provided a particularly brutal demonstration of how quickly that risk can be repriced. The Strait of Hormuz dominated again, with the US-Iran…
Yemen’s Houthis have seized the strategic Red Sea port city of Mokha, bringing the Iran-backed group to within around 80 km of the Bab al-Mandab Strait. The capture was confirmed by Houthi and Yemeni…
Vessel transits at the Strait of Hormuz fell to seven on Thursday from 11 the previous day, preliminary ship-tracking data showed on Friday, well below the 10-day average of 15.
The tanker sale that has dominated market chatter this month has finally taken shape, with Dubai-based trading house Onex DMCC linked to an extraordinary $200m purchase of a near-new VLCC from George…
A Greek-managed cargo ship was boarded by suspected pirates off Yemen on Thursday in the latest sign of a sharp revival in piracy across the Gulf of Aden and western Indian Ocean. Initial reports…
The Morning Manifest
One briefing, every morning at 07:00 Riyadh time — the cargo and freight stories that matter across the Kingdom and the region.
