Three Killed in Houthi Attack On Greek-owned Ship

A Barbados-flagged, Greek-managed bulker was attacked by Yemen's Houthi rebels on Wednesday, causing the first crew casualties since the group began attacking commercial shipping nearly five months ago. Several crewmembers are reported to have been killed in the attack and others badly injured after the vessel, the True Confidence, caught fire. The Indian Navy warship INS Kolkata responded to rescue the ship's crew and assess the situation. Eight survivors were hoisted by helicopter, and the injured were transferred aboard via small boat operations. All of the survivors were delivered to safety in Djibouti. “This was the sad and predictable result of the Houthis' reckless missile launches on international shipping. They must stop. Our deepest condolences are with the families of those who died and those who were injured," said the British Embassy in Yemen in a statement.  Later in the day, U.S. Central Command said that three crewmembers died in the attack and four were injured, of which three are in critical condition. The vessel sustained serious damage, American authorities said.  The 50,500 dwt bulker was traveling from China with a stop in Singapore bound for Jeddah, Saudi Arabia when it was attacked on Wednesday…

Continue ReadingThree Killed in Houthi Attack On Greek-owned Ship

Baltic index ticks down as capesize losses offset gains in smaller vessels

he Baltic Exchange’s dry bulk sea freight snapped a 12-session winning streak on Tuesday, as pressure from lower capesize rates outweighed gains in smaller vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 0.3% at 2,291 points. The capesize index snapped its nine-session rising streak, shedding 57 points, or 1.4%, to 4,148. Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased by $471 to $34,402. Iron ore futures prices were mixed, as investors digested a raft of key economic targets set by policymakers in top consumer China’s annual meeting of the National People’s Congress. The panamax index added 32 points, or 1.8%, to 1,805 points, its highest level since Jan. 3. Average daily earnings for panamax vessels, which usually carry about 60,000-70,000 tons of coal or grain cargo, were up $281 at $16,242. Among smaller vessels, the supramax index, extended gains, adding 15 points, or 1.2%, to 1,297 points. It rose for a fifteenth straight session. Chinese importers are believed to have purchased at least 65,000 metric tons of animal…

Continue ReadingBaltic index ticks down as capesize losses offset gains in smaller vessels

LAVAN Island

Lavan Island is situated about 18 km south of Bandar Mogham in the Persian Gulf. It serves as the operational base for three offshore fields: Salman, Resalat, and Reshadat. The island features infrastructure such as process plants, storage and export systems, utility and maintenance facilities, a storehouse, and a loading jetty. The island terminal includes piers for handling petroleum products and LPG, as well as an SBM for managing crude exports. This port is managed by the Iranian Offshore Oil Company (IOOC), a subsidiary of the National Iranian Oil Company (NIOC). It serves as a deep-water tanker terminal capable of accommodating two ships. Location: Approximately 10 nautical miles off the southern coast of Iran, and 170 nautical miles west of the Straits of Hormuz. The terminal is situated at the southeast corner of the island. Port Limit: The oil loading jetty limits, controlled by NIOC, extend between the specified points. 26° 47.50′ N, 053° 22.00′ E 26° 46.40′ N, 053° 22.00′ E 26° 46.80′ N, 053° 19.40′ E 26° 47.50′ N, 053° 19.40′ E Ships should approach from the south, as it is safe and clear of hazards. The designated anchorage zone is located east of the oil loading dock at 53 22’ E.…

Continue ReadingLAVAN Island