Military ships in the region have been attempting to thwart missile strikes on merchant vessels over the past few weeks, but the Houthis have continued their attacks.

The record pay rise came as DP World imposed its biggest hikes yet to terminal access charges.

The drop is the latest headache for the North African nation that was already wrestling with its worst economic crisis in decades before the Israel-Hamas war erupted in October.

The ship remained at sea for several weeks awaiting a decision from Australia as to whether or not the livestock could be offloaded due to biosecurity risks, officials said.

Since the start of 2024, the wholesale cost of fuel delivered to northwest Europe has jumped by 12% to just over $116 a barrel.

Under the deals, Vietnam said it would supply the Philippines with 1.6 million to 2.2 million tons of rice annually.

Despite the diversions, lots of tankers — many hauling Russian oil — continue to ferry barrels through the waterway. 

The awards, announced January 25, will make considerable investments in intermodal freight infrastructure.