{"id":77115,"date":"2024-03-04T00:00:00","date_gmt":"2024-03-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/04\/rubymar-sinks-as-houthis-vow-to-continue-to-sink-more-british-ships\/"},"modified":"2024-03-04T00:00:00","modified_gmt":"2024-03-04T00:00:00","slug":"rubymar-sinks-as-houthis-vow-to-continue-to-sink-more-british-ships","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/04\/rubymar-sinks-as-houthis-vow-to-continue-to-sink-more-british-ships\/","title":{"rendered":"Rubymar sinks as Houthis vow to continue to sink more British ships"},"content":{"rendered":"

Rubymar<\/strong> sinks triggering an environmental crisis: <\/strong>Belize-flaggedRubymar \u2014 a cargo ship carrying some 41k tons of fertilizers<\/a> \u2014 has sunk off the coast of Yemen as a result of a Houthi attack in February, Yemen\u2019s state news agency Saba<\/a> reported on Saturday. This marks the first time a vessel targeted by Houthis has sank, Reuters<\/a> added. <\/p>\n

What happens now? <\/strong>The sinking is an environmental catastrophe on a level Yemen and the region have never experienced before, Reuters reported, quoting Yemen's Foreign Minister Ahmed Awad bin Mubarak. A release of thousands of tons of fertilizer poses a serious threat to marine life due to an influx of nutrients stimulating excessive algae growth and consuming vast amounts of oxygen, University of Jordan\u2019s Marine Science Station director Ali Al Sawalmih told the newswire. The sunken ship also poses a subsurface impact risk to ships transiting in the waterway, US Central Command said on X<\/a> yesterday.<\/p>\n

Could the Rubymar have been saved?<\/strong> Shipbroker Blue Fleet Group\u2019s requests to ports in Africa, KSA, Oman, and the UAE for aid in salvaging the vessels were turned down or ignored, with the shipbroker attributing the continuing Houthi threat as driving regional ports\u2019 lack of willingness to engage, S&P Global<\/a> reported. \u201cNo one came to assist in salvaging the ship probably because they feared for their safety if they did anything, as the Houthis are very unpredictable,\u201d the outlet cited an unnamed regional official as saying <\/p>\n

Yemen\u2019s Houthis have vowed to continue sinking British vessels,<\/strong>Reuters<\/a> reported yesterday citing a post<\/a> on X by the Iranian-backed groups deputy foreign minister Hussein Al Ezzi. \u201cYemen will continue to sink more British ships, and any repercussions or other damages will be added to Britain\u2019s bill,\u201d Al Ezzi said.<\/p>\n

Houthis are blaming US and UK naval vessels in the Red Sea for a reported <\/strong>\u201cglitch\u201d in undersea communication cables,<\/strong>Reuters<\/a> reported on Saturday, citing statements on Houthi-aligned Saba news agency. \u201cAny glitch in these cables as a result of the militarization of the Red Sea by U.S. and British naval vessels represents a serious threat to the information security and economic and social stability for all countries of the world,\u201d the Houthi statement said.<\/p>\n

Grain transit through the Suez Canal plummeted to 2.6 mn tons in February<\/strong>, <\/strong>down from 5.3 mn tons in the same month last year, Reuters<\/a> reported on Friday, citing Kpler lead agricultural commodities analyst Ishan Banu. Houthi attacks have seen almost all grain shipments shirking the Red Sea route, with the notable exception of shipments originating from the Black Sea or bound for Iran which continue to transit the Red Sea, Banu also said. <\/p>\n

Speaking of Suez: <\/strong>The Suez Canal has lost over USD 700 mn in revenue since Houthi-led attacks on shipping began, compared to the previous period last year, Asharq Business posted<\/a> on X on Friday, citing Bloomberg Intelligence figures. <\/p>\n

Red Sea disruptions have highlighted the need for the development of new trade <\/strong>routes,<\/strong> and investments to rework logistics connections and bolster supply chains, UAE Economy Minister Abdulla bin Touq told the National<\/a> on Thursday. Investments to reshore production centers and develop alternative trade routes can boost the UAE\u2019s national economy, particularly if the US Federal Reserve moves to decrease interest rates, a move that would boost investor outlook and increase the capital available for investments, bin Touq said. <\/p>\n

Meanwhile overland Saudi cargo routes are gaining momentum<\/strong>,<\/strong> as GCC-based shippers contend with \u2018Ramadan rush,\u2019 and look to land routes via KSA as an alternative to costly feedering, S&P Journal of Commerce<\/a> reported on Friday. A spike in spot rates is also making trucking between Dammam and Jeddah more competitive, and renewing hopes for a long-awaiting \u201cLandbridge\u201d project which would see Dammam and Jeddah linked by rail, S&P writes. The uptick in volumes has also seen congestion at the UAE-KSA border, in addition to a 27% hike in overland trucking rates, the outlet also said. <\/p>\n

Could KSA ports steal the spotlight from Jebel Ali?<\/strong> Most goods that transit via UAE\u2019s Jebel Ali are already on their way to Saudi Arabia, Riyadh-based freight forwarder Hashim Mak told S&P. Improvements to operations at the Kingdom\u2019s ports could see shippers bypassing Jebel Ali altogether, he added.<\/p>\n

MEANWHILE- <\/strong>F<\/strong>rance\u2019s CMA CGM will resume Red Sea transits on a \u201ccase-by-case basis,\u201d <\/strong>after reevaluating the security situation in the southern Red Sea, according to a services update<\/a> released last week. The situation will be assessed closely prior to each vessel\u2019s transit, while all other vessels will continue to be rerouted around the Cape of Good Hope, the update said. <\/p>\n

R<\/strong>ussia is diverting China-bound liquified natural gas (LNG) cargoes around the <\/strong>Cape of Good Hope, <\/strong>Reuters<\/a> reported last week citing LSEG tracking data. The longer route around Africa adds some 10 days to journeys and exacerbates a tanker shortage that Russia is facing due to US sanctions<\/a>. LNG exporter Novatek relies on the Suez Canal route to ship supplies to Asia in winter months which see the Northern Sea Route closed, however, Russia is planning to open the route year-round, the newswire said. <\/p>\n

IN DEFENSE NEWS-<\/strong><\/p>\n

An Italian naval vessel, dubbed Duilio, downed a drone which was supporting it in <\/strong>the Red Sea, <\/strong>Reuters reported citing Italian defense ministry statements. \u201cThe drone, with similar characteristics to those already used in previous attacks, was about 6 km (3.73 miles) from the Italian ship, flying towards it,\u201d Italy\u2019s defense ministry said. Italy is participating in Eunavfor Aspides, an EU naval mission kicked off last month<\/a> to safeguard shipping in the region. <\/p>\n

A G<\/strong>erman navy frigate, dubbed Hessen, and deployed to the Red Sea as part of <\/strong>E<\/strong>uronavApsides<\/strong>,<\/strong> downed two drones over the Red Sea on Tuesday, <\/strong>Reuters<\/a> reported on Wednesday citing statements by German officials. The warship shot down both drones within 20 minutes of their being launched, the newswire said citing a defense ministry spokesperson. The same vessel had also tracked a suspicious drone on Monday but was unable to shoot it down, the spokesperson also said. <\/p>\n","protected":false},"excerpt":{"rendered":"

The Suez Canal has lost over USD 700 mn in revenue since Houthi-led attacks on shipping began<\/p>\n","protected":false},"author":1,"featured_media":77116,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[127],"tags":[26,126,269,123],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-77115","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-disruption-watch","tag-cma-cgm","tag-disruption-watch","tag-houthi","tag-shipping-maritime","wpautop","entry"],"acf":{"mongo_id":"dd4f8f92-a59c-4472-9a70-a115716e4ee1","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/96.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Rubymar sinks as Houthis vow to continue to sink more British ships","related_issue":[77108],"teaser":"The Suez Canal has lost over USD 700 mn in revenue since Houthi-led attacks on shipping began","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.f517d3c4-9598-4473-9984-59576713588e.mp3"},"yoast_head":"\nRubymar sinks as Houthis vow to continue to sink more British ships - 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