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☆ Houthis Turn Their Sights on U.S. Ships, Vow to Keep Attacking Red Sea Targets
▼ + stars: | 2024-01-15 | by ( Benoit Faucon | Costas Paris | ) www.wsj.com time to read: 1 min

WSJ explains how the weapons systems on guided-missile destroyers like the USS Carney are warding off missile and drone attacks on Israeli and American troops. Photo Illustration: MacKenzie CoffmanFresh attacks targeted American ships in the Middle East, days after the U.S. led a round of strikes meant to diminish the capability of Houthi rebels to hit ships transiting the Red Sea. A Houthi missile struck the Gibraltar Eagle, a U.S. bulk carrier, off the coast of Yemen without causing injury or significant damage on Monday, said the U.S. Central Command, which oversees U.S. military operations in the Middle East. Eagle Bulk Shipping , the ship’s U.S. owner, didn’t immediately respond to a request for comment.

Persons: Carney, MacKenzie Coffman, didn’t Organizations: U.S, U.S . Central Command, Eagle Bulk Shipping Locations: Gibraltar, U.S, Yemen, East

☆ U.S. Intercepts Cruise Missile Attack on Its Warship in Red Sea
▼ + stars: | 2024-01-15 | by ( Benoit Faucon | Costas Paris | ) www.wsj.com time to read: 1 min

Houthi fighters and tribesmen staged a demonstration near San’a on Sunday over the U.S.-led strikes last week. Photo: Associated PressThe U.S. military said its forces shot down a cruise missile fired from Houthi rebel areas toward an American Navy destroyer in the Red Sea, days after the U.S. led air and naval strikes against the Iran-backed militants in Yemen. The Houthis, who haven’t commented on the Sunday afternoon launch, have vowed to continue their campaign against U.S. and international targets in the region in response to Israel’s actions in Gaza, despite last week’s U.S.-led strikes against dozens of Houthi targets that were designed to prevent further attacks.

Persons: haven’t Organizations: Press, American Navy, U.S Locations: San’a, U.S, Red, Iran, Yemen, Gaza

☆ Importers Face Surging Shipping Costs, Delays as Red Sea Diversions Pile Up
▼ + stars: | 2024-01-13 | by ( Paul Berger | Costas Paris | ) www.wsj.com time to read: 1 min

The Red Sea is one of the most important shipping waterways in the world, but it’s also one of the most dangerous. Here’s how the cargo industry is responding to try and guard against attacks from the Houthis in Yemen. Illustration: Annie ZhaoWestern importers are reporting a steep rise in ocean-shipping rates and weekslong delays as carriers divert ships from the Red Sea to avoid Houthi rebel attacks. Some companies shipping goods on the crucial trade lane are starting to chafe at the rising prices and extra fees that ocean carriers are imposing for the higher cost of routing containerships on longer voyages around the Horn of Africa following drone and missile attacks by Houthi rebels in Yemen.

Persons: it’s, Annie Zhao, Houthi Locations: Yemen, of Africa

☆ Bankrupt Bed Bath & Beyond Seeks $300 Million From MSC Line for Pandemic Shipping Charges
▼ + stars: | 2023-11-29 | by ( Costas Paris | ) www.wsj.com time to read: 1 min

Bed Bath & Beyond filed for bankruptcy protection in April. Photo: Richard B. Levine/Zuma PressThe bankruptcy estate of Bed Bath & Beyond has filed the largest ever lawsuit with the Federal Maritime Commission, seeking around $300 million from Mediterranean Shipping Co. for allegedly overcharging to move its cargo during the pandemic. The bankrupt retailer wants Geneva-based MSC, the world’s largest boxship operator in terms of capacity, to pay around $150 million for damages and an equal sum for what it described as exploitative and coercive behavior. Complaints by American companies are handled by the FMC , the U.S. maritime regulator.

Persons: Richard B, Levine Organizations: Zuma, Bed, Federal Maritime Commission, Mediterranean Shipping Co, FMC Locations: Geneva, U.S

☆ The Pandemic Blunder Weighing on the Shipping Industry
▼ + stars: | 2023-11-29 | by ( Costas Paris | ) www.wsj.com time to read: 1 min

Nov. 29, 2023 10:00 am ETShipbuilders have orders totaling about 26% of the world’s containership capacity. Photo: roslan rahman/Agence France-Presse/Getty ImagesContainership operators rushed to order new vessels during the pandemic as booming demand for consumer goods was expected to fuel global trade for years to come. Their timing couldn’t have been worse.

Persons: roslan rahman Organizations: Shipbuilders, Agence France

☆ Houthi Rebels Seize Israeli-Linked Cargo Ship in Red Sea
▼ + stars: | 2023-11-20 | by ( Costas Paris | ) www.wsj.com time to read: 1 min

The Galaxy Leader, which was captured off the coast of Yemen, is operated by NYK Line of Japan. Photo: owen foley/ReutersIran-backed Yemeni rebels said they hijacked an Israeli-linked cargo ship with 25 crew members in the Red Sea over the weekend, heightening tensions in the Gaza conflict. The Houthis, a rebel group that controls Yemen’s north, said on X, formerly Twitter, that they are taking the vessel to the Yemeni coast and would continue to target vessels linked to Israel because of its attacks on Gaza.

Persons: owen foley Organizations: Galaxy Leader, NYK, Reuters Locations: Yemen, Japan, Reuters Iran, Red, Gaza, Yemeni, Israel

☆ Maersk to Cut 10,000 Jobs as Cargo Boom Ends
▼ + stars: | 2023-11-03 | by ( Dominic Chopping | Costas Paris | ) www.wsj.com time to read: 1 min

Maersk enjoyed record profits over the past two years as the pandemic drove a surge in demand for goods. Photo: JACOB GRONHOLT-PEDERSEN/REUTERSShipping and logistics giant A.P. Moller-Maersk said it would cut more than 10,000 jobs, as a pandemic-fueled cargo boom has ended, leaving the industry with a surplus of ships and sharply lower freight rates. Maersk, a bellwether for global trade, saw its third-quarter profit plummet to $521 million from $8.88 billion last year. Its main Ocean division posted a quarterly loss for the first time in many years.

Persons: JACOB GRONHOLT, PEDERSEN, Moller, Maersk Organizations: Maersk, REUTERS Shipping

☆ Ship Freight Rates Tumble as U.S. Consumers Buy Fewer Goods
▼ + stars: | 2023-10-09 | by ( Costas Paris | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones Locations: russia

Anna HirtensteinAnna Hirtenstein is a reporter at The Wall Street Journal, covering global financial markets, macroeconomics and geopolitics from the London bureau. She joined the Journal in 2019. Previously, she was a reporter at Bloomberg in London and a clean-energy investment banker at Greentech Capital Advisors in Zurich. In the early days of her career, she worked as a correspondent with a focus on oil in Northern Iraq and West Africa.

Persons: Anna Hirtenstein Anna Hirtenstein Organizations: Wall Street, Bloomberg, Greentech Capital Locations: London, Zurich, Northern Iraq, West Africa

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Persons: Dow Jones

☆ Iran’s Oil Exports Have Soared During Quiet Diplomacy With U.S.
▼ + stars: | 2023-09-20 | by ( Ian Talley | Costas Paris | ) www.wsj.com time to read: 1 min

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☆ China’s Slowing Economy Spells Trouble for Dry-Bulk Shipping
▼ + stars: | 2023-08-31 | by ( Costas Paris | ) www.wsj.com time to read: 1 min

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☆ The Panama Canal Has Become a Traffic Jam of the Seas
▼ + stars: | 2023-08-18 | by ( Costas Paris | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones Locations: panama

☆ A Cold War Mission Pays Off 65 Years Later
▼ + stars: | 2023-08-12 | by ( Costas Paris | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones Locations: russia

☆ Fire on Car-Carrier Ship Off Dutch Coast Kills One
▼ + stars: | 2023-07-26 | by ( Costas Paris | ) www.wsj.com time to read: 1 min

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☆ Shipping Regulator to Steer Clear of Stricter Rules on Carbon Emissions
▼ + stars: | 2023-07-06 | by ( Costas Paris | ) www.wsj.com time to read: 1 min

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☆ Two Firefighters Killed Battling a Ship Blaze at Port Newark
▼ + stars: | 2023-07-06 | by ( Costas Paris | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones Locations: newark

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