The threat by Iran-backed Houthi militants to attack vessels in the Red Sea has forced shipowners to reconsider sailing through the narrow Bab el-Mandeb strait.

The drone was said to have hit a U.S. floating storage and regasification vessel, with a subsequent fire spreading to a Greek-owned LNG tanker.

More than 1,500 ships trapped in the Strait of Hormuz for months have been accumulating microbial organisms at levels unprecedented in modern maritime history.

The Marseille-based company has for months confronted trade volatility due to Trump’s tariff policies and uncertainty stemming from conflicts in the Middle East

South Korean and Chinese shipyards, as well as companies like GTT, are benefiting from a wave of new LNG export terminal projects.

Shippers must add the Black Sea and the Caspian Sea to areas that are unsafe.

The falling levels on the Rhine are already disrupting freight.

State-run refiners are increasingly replacing Middle Eastern barrels with supplies from Russia and the Atlantic Basin.

The lull came as a weekend meeting between Iranian and Omani officials indicated a fresh attempt to resolve the crucial issue of shipping around Hormuz.

At least 124 Russia-linked vessels were targeted in the Black Sea and the Sea of Azov, from July 8-20, according to statements from Ukraine’s General Staff.