Yemen Financial News

OSLO (Reuters) -Denmark's Maersk said on Wednesday it has scheduled several dozen container vessels to travel via the Suez Canal and the Red Sea in the next several weeks, in a further sign that global shipping firms are returning to the route.

By Robert Harvey

Shipping firm Maersk says it is preparing to allow vessels to resume sailing through the Red Sea

Red Sea Crisis: US Military forces on December 27 announced that they had shot down over 12 drone missiles launched by Yemen-based Houthi rebels at shipping in the Red Sea, according to Pentagon. "There was no damage to ships in the area or reported injuries," the Pentagon's Central Command said in a social media post, describing a barrage of 12 drones, three anti-ship ballistic missiles and two land-attack missiles over a period of 10 hours.

NEW DELHI : Union defence minister Rajnath Singh, has vowed to take decisive action against those responsible for the assaults on the India-linked shipping vessels, MV Chem Pluto and MV Sai Baba, amid escalating tensions in the Red Sea region. For over a month, attacks by Yemen’s Houthi rebels on vessels using the crucial Red Sea shipping route have heightened uncertainty in the global economy. “The recent drone attacks on the MV Chem Pluto in the Arabian Sea and a few days ago on the MV Sai Baba in the Red Sea have been taken very seriously by the Indian government.

Yoav Gallant hinted on Tuesday that the country had retaliated in Iraq, Yemen and Iran for attacks carried out against it as the war with Hamas-led Palestinian militants in the Gaza Strip widens to other areas of the region. «We are in a multi-front war and are coming under attack from seven theatres: Gaza, Lebanon, Syria, Judea and Samaria (West Bank), Iraq, Yemen and Iran.

last week's gains of about three per cent after Houthi attacks on ships disrupted global shipping and trade while the Israel-Hamas conflict shows no sign of easing. Brent crude futures were up by $1.79, or 2.3 per cent, at $80.86 a barrel and earlier reached $81.23, the highest since December 1. US West Texas Intermediate crude rose by $1.89, or 2.6 per cent, to $75.45, according to news agency Reuters.

By Tom Sims

Vatican City: Pope Francis said in his Christmas message on Monday that children dying in wars, including in Gaza, are the "little Jesuses of today" and that Israeli strikes there were reaping an "appalling harvest" of innocent civilians. In his Christmas Day "Urbi et Orbi" (to the city and world) address, Francis also called the Oct. 7 attack on Israel by Hamas militants "abominable" and again appealed for the release of around 100 hostages still being held in Gaza.

MV Chem Pluto, off the coast of India in Arabian Sea, Iran's foreign ministry rejected "worthless" Washington's accusations. "We declare these claims as completely rejected and worthless," said foreign ministry spokesman Nasser Kanani when asked about the US accusations.

By Philip Pullella

Red Sea with the help of a new security initiative, the world’s largest shipping firm has announced.Maersk said in a press release Sunday that it has received confirmation that U.S.-led Operation Prosperity Guardian (OPG) has been set up and deployed, allowing commerce to safely pass through the Red Sea using the Suez Canal as a gateway between Asia and Europe.“This is most welcome news for the entire industry and indeed the functionality of global trade,” Maersk said in the release.U.S. defence secretary Lloyd Austin announced the multi-national security initiative earlier this month, saying in a release that OPG is necessary to tackle the “recent escalation in reckless Houthi attacks originating from Yemen.”The operation is meant to protect commercial vessels traversing the Red Sea amid escalating missile and drone attacks by Iran-backed Houthi rebels in Yemen that have threatened global trade.A Canadian government official told Global News last week that Canada will be deploying “a handful of personnel” to the region “in the coming days” as part of the mission.The Iran-backed Houthis have targeted Israeli-linked vessels since Israel began its military response to Hamas’ brutal attacks on Oct.

The sources of their woes are very different, but similarly acute. Houthi militants, in a show of support of Hamas in its war with Israel, are attacking merchant ships as they sail past Yemen en route to — or from — Egypt’s Suez Canal.

Red Sea, the latest shipping companies to do so after attacks by Yemen's Houthi group on vessels disrupted global trade, prompting the establishment of a naval task force. The hostilities have put a chokehold on ship passages through the Suez Canal, which handles about 12% of worldwide trade. The Suez Canal is most vital to the movement of goods between Asia and Europe, but global logistics executives warned that sending ships on alternate routes could roil global supply chains, causing backups at ports and shortages of vessels, containers and equipment that are suddenly in the wrong place. «The situation remains fluid, things could change quickly, which is why contingency plans that include a plan A, B and C are critical to keeping supply chains moving,» said Matthew Burgess, vice president of global ocean services at C.H.

Are ripples of hostility from the Gaza War reaching Indian shores? Over the weekend, an oil tanker with 25 Indians on board—all confirmed safe—was struck by a drone in the Red Sea, according to the US, which is patrolling this trade route being disrupted by Yemen’s Iran-sponsored Houthi militia. Hours earlier, a Mangalore-bound ship suffered a drone attack off the coast of Gujarat, making India rush armed forces to its defence.

(Reuters) — A drone launched from Iran struck a chemical tanker in the Indian ocean early on Saturday, the U.S. Department of Defense said.

Mint looks at the crisis, efforts taken to contain it, and its implication for India and the world. The Yemen-based and Iran-backed Houthi militants have fired over 100 drones and missiles at ships belonging to over 35 countries plying the Red Sea. They are doing so ostensibly in support of the Palestinian cause.

Red Sea crisis, shipping giant AP Moller-Maersk Sunday decided to resume voyages through the Suez Canal. This followed the setting up of the multi-national security initiative Operation Prosperity Guardian (OPG), led by the US. “As of Sunday 24 December 2023, we have received confirmation that the previously announced multi-national security initiative Operation Prosperity Guardian (OPG) has now been set up and deployed to allow maritime commerce to pass through the Red Sea / Gulf of Aden and once again return to using the Suez Canal as a gateway between Asia and Europe, the shipper said in an advisory to its customers. “This is most welcome news for the entire industry and indeed the functionality of global trade. With the OPG initiative in operation, we are preparing to allow for vessels to resume transit through the Red Sea both eastbound and westbound,” it added.

rapport built by the Narendra Modi government with other countries after coming to power in 2014 helped in building ties and also in rescue operations abroad, Union minister General V K Singh (retd) said here on Sunday. Speaking at the Sagar Manthan conclave organised by Panchjanya magazine in south Goa, Singh referred to various rescue operations carried out by India in war zones to bring back its citizens. He said, unlike its predecessors, the Modi government sent delegations to the UN-affiliated countries in various regions, a move that helped change their perception of India.

world trade for weeks with attacks on ships passing through the Bab al-Mandab Strait at the southern end of the Red Sea in what they say is a response to Israel's war in Gaza. The United States shot down four drones headed towards a US destroyer in the southern Red Sea and launched from Houthi-controlled areas of Yemen on Saturday, US Central Command (CENTCOM) said. 1.

Federal Reserve received some holiday cheer as inflation continued to soften while consumer demand firmed, and the Bank of Japan stuck with the world’s last negative interest rate. Meantime, maritime attacks carried out by Houthi rebels in Yemen have disrupted shipping in the Red Sea, prompting a rerouting of cargoes that’s raised costs. Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy: World The recent spate of attacks by Yemen’s Houthi rebels on vessels transiting the major shipping route has resulted in several large shipping companies avoiding the waterway. The decision by the world’s five largest container liners — with 65% of global capacity — to suspend transits through it means higher shipping costs and longer delivery timelines.