"Red Sea diversions are still the biggest contributor to rates that remain at least double their level a year ago," said Judah Levine, head of research at Freightos, in a December freight update.

Iran-aligned Houthi forces in Yemen have attacked multiple ships, including oil tankers, in the Red Sea and the Mediterranean, raising concerns about maritime security and regional tensions.

Houthis target vessels and oil tankers in Mediterranean and Red sea. Published July 16th, 2024 - 05:55 GMT.

Chevron Corporation CVX, along with several other multinational energy firms, has exited its oil concession blocks in Egypt’s Red Sea region after failing to discover commercial oil or gas ...

Destroyer USS Stout (DDG-55) and cruiser USS Gettysburg (CG-64) remain in the Red Sea. This marks the third time in more than 15 months that the U.S. has left the Red Sea without an aircraft ...

Houthi attacks in the Red Sea have caused a 60% drop in Suez Canal revenue, a $7 billion loss for Egypt. Major shipping companies have rerouted vessels around the Horn of Africa due to Red Sea ...

Chevron Corporation CVX, along with several other multinational energy firms, has exited its oil concession blocks in Egypt’s Red Sea region after failing to discover commercial oil or gas ...