Saudi state media said the tanker Encelia was hit in the Red Sea, resulting in a fire on board.

Kuehne+Nagel bought the majority of Apex in 2021, then the rest in 2025 at an enterprise value of more than $4 billion.

Although autonomous technology aboard cargo ships has made significant progress in recent years, the industry remains years away from replacing conventional crews.

The new terminals will be linked to Jebel Ali, and integrated with a nearby east coast zone called Jafza through an inland logistics network.

The ships could make the voyage to China via the Suez Canal, but that would increase the voyage from about 7,000 miles to more than 17,000 miles.

The vessel was said to have been using a maritime export corridor to move cargo down the Romanian and Bulgarian coastlines to Turkey.

The Houthi blockade will reportedly target the Bab el-Mandeb strait, which serves as the route for roughly 5% of global gas and oil supplies.

The U.S. restored a blockade against Iranian shipping on July 14, a step that all but halted Tehran’s crude exports when it was imposed previously.

Kenya has been banking on the levy to restart work on the China-built and funded project that runs from Mombasa, but stalled in a scrubland west of Nairobi.

A bulge in demand was caused by shippers trying to get ahead of increasing bunker fuel prices, ironically causing a spike in freight rates.