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About Commodity Insights
22 Feb 2024 | 16:36 UTC
By Max Lin
Highlights
Latest attack sees ship set ablaze off Yemen
Crew safe, vessel continues journey to next port
Dozens of Houthi attacks on international shipping in recent months
A ship suffered minor damage after being hit by two missiles in the Gulf of Aden but was able to continue its journey, the UK Maritime Trade Operations said Feb. 22 as regional maritime risks remained heightened amid relentless attacks by Houthi fighters.
The incident occurred 70 nautical miles southeast of Aden, Yemen, resulting in a fire on-board, the UK government agency said on X, the social media platform formerly known as Twitter. The crew are safe.
The vessel's identity could not immediately be confirmed. Security consultancy Ambrey described the ship as "UK-owned" and unconfirmed reports suggested it is the 26,446-dwt general cargo ship Islander.
The Yemen-based Houthi rebel group, which has launched attacks on dozens of ships in recent months, has yet to make any claim.
Over Feb. 18-20, Iran-backed Houthis fired missiles at the 32,200-dwt general cargo ship Rubymar, the 37,852-dwt bulk carrier Navis Fortuna, the 48,857-dwt bulk carrier Sea Champion, and the 37,548-dwt general cargo ship MSC Silver.
The Rubymar was disabled and its crew had to be evacuated, marking the most significant vessel damage since the militants started attacking ships they claimed to be linked to Israel, the US, or the UK in support of Hamas during its ongoing war with Israel.
The other three ships did not report major damage or casualties.
While the Houthis claimed that the Rubymar eventually sank, the ship was actually being towed to Djibouti where the crew resided, according to media reports.
"The Houthis' attacks are driving up prices and causing delivery delays in critical humanitarian items, such as food and medicine in places where it's needed most," the US Department of State said in a statement Feb. 21.
"This is adversely affecting those in need of assistance around the world, including in Sudan, Ethiopia, and in Yemen itself," the statement said. "Many of the ships that the Houthis have attacked contained food, such as grain and corn, headed for those countries."
With continued security worries, many shipping companies and cargo owners have diverted their ships from the Red Sea to sail around the longer Cape of Good Hope route.
Daily transits through the Bab al-Mandab Strait stood at 31 ships on a seven-day moving average as of Feb. 20, down from the year-ago level of 64, according to IMF Portwatch.
The diversion has supported shipping rates and oil prices in various markets. The Platts Dry Index, a weighted average of time-charter earnings of dry bulk carriers of various sizes, rose to $17,329/d Feb. 21 from $10,964/d Jan. 30 for non-scrubber ships.