The Houthi militia in Yemen appears to be allowing some ships to pass through the Bab al-Mandab strait at the mouth of the Red Sea, despite its blockade of shipping to Saudi Arabia, experts said on Thursday. A Chinese oil tanker, Cosco Shipping’s VLCC Xin Long Yang, has been granted permission to pass through the waterway, according to the trade publication Lloyd’s List. It said Chinese tankers returning from the Saudi port of Yanbu in the Red Sea may be able to negotiate passage with the...
Shanghai, already home to the world’s largest container port, has unveiled a strategic road map to further bolster its shipping-services sector, escalating a challenge to hubs in Hong Kong, Singapore and London. The Port of Shanghai, China’s most prominent commerce and trading gateway, aims to leverage tech, including artificial intelligence and automation, to boost efficiency and expand value-added industries, from financing and insurance to legal services, according to a five-year plan...
More than 500 ships have passed through the strait since June 17, but many remain stuck.
Industry known for its resilience is likely to emerge from war relatively unchanged, analysts say.