S&P Global Offerings
Featured Topics
Featured Products
Events
S&P Global Offerings
Featured Topics
Featured Products
Events
S&P Global Offerings
Featured Topics
Featured Products
Events
S&P Global Offerings
Featured Topics
Featured Products
Events
Solutions
Capabilities
Delivery Platforms
News & Research
Our Methodology
Methodology & Participation
Reference Tools
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
Featured Events
S&P Global
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
S&P Global Offerings
S&P Global
Research & Insights
S&P Global
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
About Commodity Insights
Solutions
Capabilities
Delivery Platforms
News & Research
Our Methodology
Methodology & Participation
Reference Tools
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
Featured Events
S&P Global
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
S&P Global Offerings
S&P Global
Research & Insights
S&P Global
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
About Commodity Insights
23 Dec 2023 | 09:04 UTC
Highlights
Drone attack caused explosion near India port
Houthi militants targeting vessels in Red Sea
Shipping traffic dropped in Bab al-Mandab Strait
A drone attack caused an explosion on a vessel near the India port of Veraval and prompted maritime authorities to warn shippers to be cautious operating in the area on Dec. 23, according to a statement from UK Marine Trade Operations.
"Vessels are advised to transit with caution and report any suspicious activity," said UKMTO following the report of the attack by an Uncrewed Aerial System, which it said occurred 200 nautical miles southwest of Veraval.
The incident occurred hundreds of miles from the area in the Red Sea and Bab al-Mandab Strait that has been targeted by Iran-backed Houthi militants, and which has forced ship operators to reroute sailings via the Cape of Good Hope to avoid being targeted. The Houthis have extended the campaign of targeting vessels owned by Israel-linked entities to any ship destined for an Israeli port.
In response to attacks the US has formed a new multi-national task force to try guarantee one of the world's most important shipping lanes remains open for commercial navigation.
However, tonnage transiting the chokepoint of Bab al-Mandab has dropped by over a half since the beginning of December, S&P Global Commodity Insights data shows, as increased security risks have prompted all vessel types to divert voyages.
Since Dec. 15, nearly a dozen of the world's largest container lines and tanker operators, as well as energy majors BP and Equinor, have announced their intention to steer their ships and cargoes away from the Red Sea for safety reasons.
Data from S&P Global Maritime Intelligence Risk Suite shows a total of 50 ships with 2.67 million dwt sailed through the Bab al-Mandab Strait Dec. 19, down 56% from an average of 6.06 million dwt per day in the first two weeks of December, when around 75 vessels passed through the trade lane daily.