The strike marks a serious escalation of attacks by Houthi militants given they have, so far, primarily targeted container vessels moving through the Red Sea

Since the assault by Iran-backed Houthis began in December, 39% fewer ships are moving through the Suez Canal, leading to a 45% decline in freight tonnage

The situation in the Red Sea has remained volatile despite extensive efforts by a US-led coalition to avert attacks by Houthi militants

Attacks by Iran-backed Houthis have doubled the cost of exports from India and cast a shadow over China's commercial interests and major investments along the Suez Canal

A tanker was reportedly seized on Thursday by armed men near Oman and headed toward Iran; attacks on vessels near the Red Sea are taking a toll on global commerce.

COSCO’s decision comes on the back of increasing tensions in the Red Sea, one of the most used trade routes in the world

Shipping giants are bracing for significant disruptions to affect key routes like the Panama Canal and knock complex vessel schedules out of sync

The marine news publication Lloyd's List said an anonymous entity based in Dalian has bought several very large crude carriers to create the hub off the coast of Portugal

The Nord Joy fuel tanker was boarded by armed navy personnel on May 30 while anchored in Indonesian waters to the east of the Singapore Strait

California port leaders expect imports to rise as Shanghai, home to the world's busiest seaport, emerges from a two-month Covid-19 lockdown

CNOOC is the country's largest importer of the fuel and among state-owned companies leading a drive to expand capacity to meet rising import needs

In November, China reported 5G phone shipments of 28.97 million units, a year-on-year increase of 43.9%