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U.S. Navy Destroys Boats Controlled by Iran-Backed Militias in Red Sea

31Dec

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World

U.S. Navy Destroys Boats Controlled by Iran-Backed Militias in Red Sea

By Benoit Faucon and Carrie Keller-LynnUpdated Dec. 31, 2023 11:26 am ETListen to article(2 minutes)A U.S. Navy vessel destroyed three boats carrying pro-Iranian Yemeni rebels after they attacked a Danish-owned containership early Sunday, the latest in a string of assaults that have disrupted maritime traffic in the Red Sea. Meanwhile, Israeli forces raided what they described as a key Hamas command post in Khan Younis on Saturday, gathering intelligence as Israel searches for Hamas leaders and underground tunnels in the militant group’s southern stronghold, currently the focus of Israel’s ground campaign in the Gaza Strip.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Iran-Backed Forces Widen Their Attacks on Commercial Shipping

25Dec

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World

Iran-Backed Forces Widen Their Attacks on Commercial Shipping

Updated Dec. 25, 2023 2:29 pm ETEscalating Iran-backed attacks against global commercial shipping in the Red Sea have heightened pressure on the Biden administration as officials scramble to protect trade while trying to avoid a direct confrontation with Tehran.The U.S. Navy said late Saturday that two more vessels had been attacked that day by Iranian-backed Houthi forces in Yemen, bringing the number of commercial ships attacked near a crucial passageway between the Horn of Africa and the Middle East to 15. The Pentagon said earlier in the day that a chemical tanker in the Indian Ocean was struck by a drone launched directly from Iran, a claim Tehran denied.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Maersk to Resume Red Sea Shipments as Multinational Force Deploys

24Dec

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World

Maersk to Resume Red Sea Shipments as Multinational Force Deploys

Moller-Maersk said Sunday it plans to restart shipments through the Red Sea after pausing operations there earlier this month following attacks on its vessels. The shipping and logistics company said it had started preparing to allow vessels to resume both east- and westbound movements through the Red Sea, a waterway that leads to the Suez Canal—a major thoroughfare for global trade.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Maersk to Cut 10,000 Jobs as Shipping-Industry Boom Ends

4Nov

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World

Maersk to Cut 10,000 Jobs as Shipping-Industry Boom Ends

Updated Nov. 3, 2023 8:16 am ETShipping and logistics giant A.P. Moller-Maersk said it would cut more than 10,000 jobs, as a pandemic-fueled cargo boom has ended, leaving the industry with a surplus of ships and sharply lower freight rates. Maersk, a bellwether for global trade, saw its third-quarter profit plummet to $521 million from $8.88 billion last year. Its main Ocean division posted a quarterly loss for the first time in many years.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8