The Iran war broadened over the weekend despite a pause in US strikes, as Yemen's Iran-aligned Houthis attacked Saudi oil installations along the Red Sea coast and Iran accused Ukraine of targeting one of its vessels in the Caspian Sea resulting in the death of a sailor.
Global air cargo rates extended their decline at the end of June and early July as lower fuel prices and softer demand weighed on the market, although renewed tensions in the Middle East region have raised the risk of fresh supply chain disruption, according to a report.
The US military launched a new series of airstrikes on Friday after Tehran struck a commercial ship in the Strait of Hormuz with a drone, thus presenting a fresh test for the fragile ceasefire, said media reports, even as Israel and Lebanon reached a framework deal for peace.
A cargo ship was sunk off Oman and another vessel was reportedly seized near the United Arab Emirates and taken toward Iranian waters on Thursday, underscoring the continuing disruption to shipping through the Strait of Hormuz as diplomatic efforts to ease tensions showed little sign of success.
The US has authorised operations involving the sale, delivery, or offloading of crude oil and petroleum products of Russian origin loaded onto tankers, according to a general license published on the website of the Office of Foreign Assets Control (OFAC) of the US Treasury Department.
German shipping company Hapag-Lloyd said projectile fragments have hit the Liberia-flagged container vessel 'Source Blessing' near the Strait of Hormuz.
The Arab Shipbuilding & Repair Yard Company (ASRY) recently organised advanced training sessions on the fundamentals of firefighting for a group of personnel from Bahrain's General Directorate of Civil Defence as part of ASRY's efforts to strengthen a culture of safety and security.
