
Red Sea Risk
As attacks on commercial shipping to continue in the Red Sea, Lloyd’s List offers the latest insight,
analysis and commentary on how the crisis is impacting shipping markets and global trade

When is a ‘blockade’ not a blockade?
Iranian sabre-rattling needs ‘effective power’ and military force to meet legal threshold. Probably

Red Sea traffic remains unchanged by resurgent Houthi attacks
There were 244 transits through the Bab el Mandeb last week, up from 232 the week prior

Tighten up Red Sea precautions, say P&I clubs
Marine mutuals not on hook for war risk losses

Traffic to damaged Houthi-held Hodeidah and Saleef ports halts following Israeli air strikes
Satellite imagery suggests heavy damage to the docks in the ports of Hodeidah and Saleef, both previously damaged in air strikes in May

Iran shipments to Houthis a masterclass in AIS manipulation
The Houthis have a robust weapons supply chain and there are limited options for interrupting these networks

The week in charts: Philippines orders crews to avoid high-risk areas | Panama Canal transits still below pre-drought levels | Vehicle carrier markets buoyant
Traffic through the Bab el Mandeb continues as normal, despite two ships being sunk last week; Average Panama Canal transits per day flat in June versus May with numbers down 14% versus June 2022, prior to drought; Strong car exports from China and continued Suez Canal diversions have helped to keep freight rates and charter rates relatively high

Eternity C search operation called off
Focus now on health and welfare of surviving crew members

Eternity C: when war risk insurers don’t face the music and dance
Sorry, shipowners, but underwriters do have the right to decline cover

Travelers named as insurer that declined war risk cover for Eternity C
Shipowners slam underwriter’s reluctance to write business despite accepting annual placement

Underwriters declined war risk cover for final voyage of Eternity C
Insurance status of the Greece-operated bulk carrier sunk by the Houthis remains unclear

Vessel Protect has 100% war risk line on Magic Seas
Insurance arrangements for Eternity C, a second Greece-owned bulker struck by the Yemeni rebel faction the following day, are unclear
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