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Yemen’s Houthis hit another bulk cargo carrier: Update

  • Spanish Market: Freight
  • 24/06/24

Adds Houthi spokesperson comments

Yemen-based Houthi militants have struck a Greek-owned and operated bulk cargo carrier in a suspected uncrewed aerial system attack on 23 June, said US Central Command (Centcom) today.

This marked the Houthi's fourth attack on the Liberian-flagged Transworld Navigator, which reported moderate ship damage but has continued under way. The vessel most recently docked in Malaysia and was headed to Egypt, according to Centcom. The incident happened near Yemen's Al Hudaydah, according to the UK Maritime Trade Operations (UKMTO). The Transworld Navigator is currently in ballast and last discharged about 133,000t of thermal coal in China in late May, according to global trade analytics platform Kpler.

The UKMTO later on 23 June received a separate report of a distress call from a vessel near Yemen's Nishtun. The merchant vessel "suffered flooding that cannot be contained", which forced the crew to abandon the ship, said UKMTO.

The Houthis took responsibility for the attacks on the two vessels. The Transworld Navigator had been targeted in the Red Sea using "an uncrewed surface boat" which led to a direct hit against the ship, Houthi spokesperson Yahya Saree said on 23 June. The Stolt Sequoia, which Houthis identified as an oil product tanker, was attacked in the Indian Ocean with a number of cruise missiles. The ships belonged to companies that "violated the ban on entering the ports of occupied Palestine", Saree said in a televised speech. The Stolt Sequoia was expected to arrive in Belgium on 9 July to discharge about 36,000t of base oils, according to Kpler.

The Iran-backed Houthis began attacking ships in the Red Sea six weeks after the Israel-Hamas war broke out last year in what they claim is an act of solidarity with Palestinians in Gaza. They have stepped up their attacks in recent days, prompting countermeasures by US and UK military forces deployed in the area. The Red Sea is one of the world's most important shipping lanes, serving as a vital trade link between Europe and Asia.

The recent spate of attacks prompted the International Chamber of Shipping to last week call for urgent action to stop the Houthis' "unlawful attacks" on commercial shipping in the Red Sea. This came after the sinking of a second bulk carrier, the Greek-owned and operated Tutor, since November last year.

Oil prices were mostly steady despite escalating tensions in the Red Sea. The Ice front-month August Brent contract was at $85.15/bl at 03:43 GMT, down by 0.06pc from the previous settlement. The front-month July WTI crude contract was at $80.66/bl, down by 0.09pc.


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15/05/25

Global dry bulk trade to contract in 2025: Star Bulk

Global dry bulk trade to contract in 2025: Star Bulk

New York, 15 May (Argus) — Dry bulk shipowner Star Bulk projects the total volume of global dry bulk volumes to fall by 1.2pc in 2025, largely due to lower global dry bulk exports to China Coal is projected to suffer the largest declines in global export volumes among major bulk commodities as China and India's domestic coal production growth is outpacing its consumption growth, creating downside risks for 2025 imports, according to Star Bulk. The global coal trade is expected to fall by 3.2pc on the year, down to 1.3bn t for 2025. China is also trying to increase its own grain productionand is "engaging in [genetically modified] crops" which will put downward pressure on its seaborne grain imports, according to Star Bulk. The global grain trade is projected to decline by 2.1pc on the year, down to 524mn t in 2025. For global iron ore exports the outlook is less clear. Low Chinese domestic production and stocks may increase demand but rising protectionist measures from steel-importing nations could curb Chinese steel production for the coming quarters, according to Star Bulk. Increases in minor bulk exports, such as bauxite or fertilizers, will rise on the year but not enough to mitigate decreases in major bulk volumes. The volume of minor bulk trade is expected to grow by 0.4pc on the year, driven by higher bauxite exports out of west Africa. Star Bulk's fleet consists of 150 bulk carriers including 17 Newscastlemaxes, 16 Capesizes, 38 Kamsarmaxes and 48 Ultramaxes. Star Bulk reported a first quarter profit of $462,000, down from $74mn in the same quarter the previous year. By Charlotte Bawol Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

EU consults on tariffs for €95bn US imports


09/05/25
09/05/25

EU consults on tariffs for €95bn US imports

Brussels, 9 May (Argus) — The European Commission is consulting on an extensive list, worth €95bn ($107bn), of US industrial, agricultural and other imports that could be subject to tariff countermeasures. The long list includes extends from livestock, biofuels, wood pellets to metals, aircraft, tankers and polymers . The consultation runs until midday on 10 June. It is aimed at stakeholders affected by US measures and possible EU rebalancing measures. Also considered for possible countermeasures are restrictions, worth €4.4bn, on EU exports to the US of steel, iron and aluminium scrap, as well as toluidines, alcoholic solutions and enzymes (CN codes 7204, 7602, 292143, 330210 and 350790). The commission linked the possible new measures to US universal tariffs and to Washington's specific tariffs on cars and car parts. The commission said the public consultation is a necessary procedural step. It does not automatically result in countermeasures. The EU also launched a WTO dispute procedure against the US for Washington's universal tariffs, set at 20pc for EU goods and currently paused at 10pc, and at 25pc on all imports of vehicles and car parts. The commission will need approval by EU governments under a simplified legislative procedure. Officials say this will complete a legal act for the countermeasures, making them "ready to use" if talks with the US do not produce a "satisfactory" result. The list of products potentially targeted includes livestock, along with items ranging from spectacles to antiques. The 218-page list includes a range of agricultural and food products including oats, maize, and cereal pellets. Also included are biodiesel and wood pellets (CN codes 38260010, 44013100), as well as paper and cotton products. Aluminium, iron, steel are listed together with a wide range of other goods from gas turbines, ships propellers and blades, aircraft, sea-going tankers and other vessels. Polymers, copolymers, polyesters and other products are not spared (CN codes 39039090 and more). On 10 April, the EU paused its reciprocal tariffs against the US for 90 days, responding to a US pause. The EU notes that €379bn, or 70pc, of the bloc's exports to the US are currently subject to new or paused tariffs. By Dafydd ab Iago Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Scorpio Tankers' profits plunge in January-March


07/05/25
07/05/25

Scorpio Tankers' profits plunge in January-March

Singapore, 7 May (Argus) — New York-listed shipowner Scorpio Tankers' net income and time charter equivalent (TCE) revenue plunged by 76pc on the year in January-March, because of lower average daily TCE rates and a reduced fleet size. Scorpio's adjusted net income was at $49mn in the first quarter, down sharply from $206.6mn in the first quarter of 2024. The TCE rate for Scorpio's fleet decreased to $23,971/d in January-March from $39,660/d a year earlier. The company projects the TCE rate for the second quarter at $26,139/d. The company in early 2024 reported favourable market conditions, because of rising consumption and high export volumes. Disruptions in the Red Sea had prompted much of the global shipping fleet to divert around the Cape of Good Hope, and this rerouting significantly boosted tonne-mile demand. This boosted average daily spot TCE rates for the company's Long Range 2 (LR2) vessels, which are primarily used for these extended routes, to record highs during the first quarter of 2024. Red Sea transits remained limited throughout 2024, but global refined oil product supply chains adjusted, so tonne-mile demand fell to more typical levels during the second half of 2024 and into early 2025, according to Scorpio Tankers. Concurrently, refinery maintenances took place earlier than usual, peaking in February and March, which contributed to a drop in refined product exports. The company also said the average number of vessels operated was 99 during the three months ending 31 March, down from 110.9 during the same period in 2024. This contributed to Scorpio Tankers' lower TCE revenues in the first quarter of 2025. Scorpio's fleet consists of 99 ships, comprising 38 LR2 vessels, 47 Medium Range (MR) ships and 14 Handymaxes. The fleet's weighted average age is approximately 9 years. By Sureka Elangovan and Lisa Cheng Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

В ПГК сменился гендиректор


29/04/25
29/04/25

В ПГК сменился гендиректор

Moscow, 29 April (Argus) — Алексей Винников назначен генеральным директором Первой грузовой компании (ПГК), сменив на этому посту Олега Романова, говорится в официальном сообщении компании от 29 апреля. Романов, возглавлявший ПГК с августа 2024 г., в свою очередь, продолжит работать в этой компании на позиции первого заместителя генерального директора и отвечать за взаимодействие с РЖД. Изменения в команде топ-менеджмента обеспечат не только преемственность в работе компании, но и усиление экспертизы в оперировании благодаря внедрению новых идей и подходов, что особенно важно в условиях динамично меняющегося рынка, отмечается в пресс-релизе ПГК. Основными задачами Винникова станут укрепление позиций оператора на рынке грузовых железнодорожных перевозок и формирование стратегии развития компании на ближайшие годы. Я рад возглавить Первую грузовую компанию и намерен применять свои опыт и знания для реализации амбициозных целей, которые сегодня стоят перед нами, — приводятся слова Винникова в сообщении компании. В управлении ПГК находится около 100 тыс. вагонов, включая полувагоны и крытый парк, по информации участников рынка. Алексей Винников окончил Московский институт инженеров транспорта в 2007 г. С 2011 г. работал в департаменте корпоративных финансов РЖД, в 2011—2019 гг. занимал должность директора по экономике — начальника департамента экономики Федеральной грузовой компании, принадлежащей РЖД. С февраля 2024 г. по апрель 2025 г. возглавлял Атлант. Руководство Атлантом возьмет на себя материнская структура — функции единоличного исполнительного органа будут переданы лизинговой компании Трансфин-М, сообщили Argus в пресс-службе Атланта. В свою очередь, Трансфин-М с октября 2024 г. возглавляет бывший замминистра транспорта Иннокентий Алафинов. В управлении Атланта на момент публикации находится 63,9 тыс. различных вагонов, в том числе — 51 тыс. полувагонов, 9,8 тыс. крытых вагонов и около 3 тыс. единиц прочих родов, по данным компании. Источники на рынке оперирования полагают, что в ближайшем будущем стоит ожидать взаимной интеграции активов ПГК и Атланта, включая оперативный обмен парком, если это будет выгодно в той или иной ситуации. Обе компании не стали опровергать это предположение. В пресс-службе компании сообщили, что ПГК открыта для сотрудничества со всеми операторами для выполнения своих бизнес-задач и удовлетворения потребностей клиентов. В то же время в Атланте отметили, что компания взаимодействует с операторами грузового подвижного состава для эффективного выполнения своих бизнес-задач для повышения эффективности клиентов. Константин Мозговой ___________________ Больше ценовой информации и аналитических материалов о рынке транспортировки навалочных, генеральных грузов и контейнеров — в ежемесячном отчете Argus Логистика сухих грузов . Подписаться на аналитический дайджест Вы можете присылать комментарии по адресу или запросить дополнительную информацию feedback@argusmedia.com Copyright © 2025. Группа Argus Media . Все права защищены.

US' Chinese ship port fee decision Thursday: USTR


16/04/25
16/04/25

US' Chinese ship port fee decision Thursday: USTR

New York, 16 April (Argus) — The US Trade Representative's (USTR) office said it will release details Thursday on proposed fees for operators of Chinese-built ships calling at US ports. The closely-watched proposals — part of President Donald Trump's plan to kick-start a flagging US shipbuilding industry and challenge Chinese dominance in the sector — were the subject of hearings and public comments last month in Washington, DC. The original proposal included fees of up to $1.5mn per port call for ships based on the percentage of Chinese-built vessels in an operator's fleet. Shipping market participants said the proposals could significantly curtail US import and exports and hurt the broader economy. Higher costs for shipping would likely be passed on to US consumers . Since the public hearings, the USTR has signaled that the fees would likely be less onerous than under the original proposal, and that not all of them would be implemented . By Charlotte Bawol Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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