The move will see safety and risk management, claims and underwriting teams work more closely together to adapt cover offered by marine mutual

After a two-week lull in activity, Iran-backed militant group the Houthis have launched several attacks at shipping in the Red Sea over the past 24 hours

UKMTO reported the incident in the Red Sea on the morning of April 24, which comes after a significant quiet period for attacks in the region

Spot rates may have fallen back from the peaks, but carriers have prevented them falling below Red Sea-crisis levels. That has helped them secure higher rates in this year’s transpacific contract negotiations

Whether naval operations have degraded Houthi capabilities or the Iran-backed militants were simply regrouping, the latest warnings suggest that a resurgence of attacks targeting vessels in the Red Sea is imminent

More than 30 countries condemn Iran’s seizure of containership on April 13 and deadly attacks on international shipping in the Red Sea by Iran-backed Houthis

From Shanghai to Hong Kong and then to Tokyo, shipping companies’ stocks continued their upward trend from last Friday, following news of escalating conflicts in the Middle East

The unfolding events in the Middle East are capturing everyone’s attention, but bigger changes may still lie ahead