Addis Ababa — The African Union has strongly condemned attacks claimed by the Houthis against commercial oil tankers in the Red Sea. In a statement, Chairperson of the African Union Commission Mahmoud Ali Youssouf warned that the escalation poses a serious threat to regional peace, international maritime security and global economic stability. The Chairperson expressed…
Addis Ababa (Horndiplomat) — African Union Commission Chairperson Mahmoud Ali Youssouf on Thursday condemned attacks claimed by Yemen’s Houthi movement against commercial oil tankers in the Red Sea, warning that the escalating violence poses a serious threat to regional stability, international maritime security and global trade. In a statement issued from Addis Ababa, the African…
Maritime insurance prices have soared amid shipping disruptions in the Strait of Hormuz and are also rising for vessels traversing the Bab al-Mandeb, with both waterways – critical channels for the global economy – now theatres of war. Yemen’s Iran-aligned Houthi group announced a blockade of Saudi Arabian ports and ships in the Bab al-Mandeb…
Shipping companies, freight forwarders and other port users have raised concerns over the potential impact of the ongoing crisis in the Middle East on cargo throughput into Nigerian ports. They warned that the situation could also worsen Nigeria’s inflation if the conflict in the region persists. Speaking with Vanguard on the development, Chairman of the…
Tankers sail in the Gulf, near the Strait of Hormuz, as seen from northern Ras al-Khaimah, near the border with Oman’s Musandam governance, amid the U.S.-Israeli conflict with Iran, in United Arab Emirates, March 11, 2026. Stringer | Reuters Insurance giant Chubb will be the lead underwriter for a U.S. government-led program to provide insurance…
Mediterranean Shipping Company will add new charges on several trade routes to Africa as tensions in key maritime corridors disrupt global shipping. The Swiss shipping group said the “war surcharge” took effect on March 5 and affects cargo moving from the Indian subcontinent and Gulf countries to African markets. The measure will raise freight costs…
Iranian official threatens to “set fire” to any ships passing through the Strait of Hormuz.
China is one of Nvidia’s largest markets, particularly for data centers, gaming and artificial intelligence applications. Avishek Das | Lightrocket | Getty Images Two Chinese nationals in California have been arrested and charged with the illegal shipment of tens of millions of dollars‘ worth of AI chips, including from Nvidia, the Department of Justice said…
BREAKINGBREAKING, National Search and Rescue Agency says rescuers searching for 43 people after vessel sank off resort island. Rescuers are searching for 43 people missing in rough seas overnight after a ferry carrying 65 people sank near Indonesia’s resort island of Bali. The KMP Tunu Pratama Jaya sank almost half an hour after leaving East…
Nice, France — Once cast as a culprit of ocean degradation, the global shipping industry is quietly reshaping its image–with experts now betting on it as a key ally in saving our seas. Transporting more than 80 percent of global trade and generating over USD 930 billion annually, shipping is often perceived as an invisible…
