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Report: Greek airspace blackout caused by old systems and not cyberattack
Investigators say that an eight-hour radio blackout at Greek airports last week, which forced authorities to clear airspace, was partially due to outdated communication systems. The issue revealed infrastructure gaps in this key tourist destination. A high-ranking government official resigned after the report of the investigative panel on Wednesday. On January 4, air traffic controllers lost touch with the majority of planes, which included dozens headed for Greek airports. Radio frequencies were also replaced by static. Experts in aviation said that the incident was unprecedented for a country in southern Europe. The key Telecom Infrastructure Based on Outdated Technology The report of the five-member investigation committee said that the cause of the outage is still unclear. Multiple systems went out of sync, leading to a scramble of communications between the airport towers and the planes. In response, a transport ministry official stated that Greece's system was in line with EU Standards. However, the ministry has implemented an upgrade plan which is expected to be complete in 2028. The unions have called for upgrades since years and say that the system is unsafe, particularly in light of the tourism boom, with millions of tourists flying to Greece each year. They said that the report vindicated their concerns on Wednesday. The AVIATION AUTHORITY'S GOVERNOR RETIRES In a statement released by the Greek transport ministry, George Saounatsos resigned as governor of Civil Aviation Authority on Wednesday. The current deputy governor George Vagenas will fill in until a replacement is appointed. The report stated that, while the incident was a "low-risk" one in terms of safety for flights, the Civil Aviation Authority’s voice communication system and the critical supporting telecom infrastructure are based on outdated technology. The report was submitted to the Transport Ministry and published late Tuesday. It stated that the infrastructure no longer has the support of manufacturers and is not operationally guaranteed. The report stated that the Greek telecom provider OTE has been warning the civil aviation authority since 2019 about the need for new circuits in its systems. It also recommended upgrading transceivers, among other changes. The report also recommended the creation of a crisis response mechanism between OTE and the Civil Aviation Authority. Reporting by Renee Maltezou, Editing by Sharon Singleton & Bernadette Baum
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Is the US Uranium Market about to go Nuclear in 2026? Maguire
The market for uranium, the primary fuel in nuclear power plants, is becoming tighter as reactor construction increases. This is setting up a price rally for uranium this year. Data from Canadian uranium mining company?Cameco showed that U.S. spot prices for the uranium sector ended 2025 around $82 per pound. This represents a rise of roughly $10, or 12%, from the end 2024. This is a significant increase compared with the well-over 100% increases in share prices in 2025 of prominent uranium miner and fuel suppliers, which were boosted by policies of the U.S. Government to revive nuclear energy production. While equities linked to the nuclear supply chains look like they will remain popular among investors, the industry is now focusing on the state of uranium which is experiencing a growing structural deficit due to the fact that consumption is exceeding production. The uranium shortage is being exacerbated by the surge in demand for electricity due to the AI-driven boom in data centres, as well as the construction of modular reactors. This is especially true in the U.S., where the mine supply has been at historic lows over the last decade. The U.S. mine uranium production is increasing again, but it is still only expected to be 1 million pounds in comparison to the 50 million pounds consumed annually by the U.S. The mismatch between supply and demand is causing the U.S. price of uranium to rise, a trend that may continue as 2026 progresses. While spot prices are still below $90 per pound, executives who track discussions between mine suppliers (mines) and power generators (power generators) have noted that "long-term contracts" are closer to $100. If deals are confirmed above or at the psychologically important $100 mark - which was last consistently exceeded in 2007 – that could help spark new momentum in spot markets and establish uranium among 2026's most exciting markets. STOCKS DRAWDOWN The U.S. uranium shortage was filled in recent years by imports from the secondary market. This includes stockpiles of utility material, decommissioned warheads, and left-over material at enrichment plants. The increased purchases of utilities and government agencies has now reduced those secondary supplies. In addition, restrictions on future uranium exports to a belligerent?Russia (which will be banned in 2028) have also narrowed sources for imports. The combination of lower stocks on the secondary market in the country and the restrictions on imports have led to a greater focus on the spot-market and any new but uncontracted outputs from uranium mining. Investors' increased uranium purchasing is further tightening supply imbalance and becoming a bullish market driver. The Sprott Physical Uranium Trust's (SPUT) Uranium Holdings - the largest fund in the world that stocks physical uranium- increased 9 million pounds, reaching a record of 72.5 million pounds by 2025. Investor holdings of fuel for the nuclear industry are expected to grow as the fleet expands and more reactors come online. This will give prices a boost. Record Nuclear Generation The world's output of nuclear electricity is likely to reach a record by 2025 after several major nuclear power plants reached all-time highs or multi-year peaks. Data from the energy think tank Ember revealed that nuclear-powered electricity supply in China, India South Korea and France will all rise to their highest levels for at least five year in 2025. The nuclear power industry in Japan has recovered after the Fukushima disaster in 2011. It is expected to continue growing in 2026 when the world's biggest reactor will be restarted in Niigata Prefecture. In 2026, new nuclear reactors will also be operational in China, India Turkey and the United States, which is expected to further increase the nuclear sector's appetite for uranium and boost total nuclear power production to new record highs. Power Pipeline Europe is home to the majority of nuclear power reactors in the world, with 39% located there. Global Energy Monitor data shows that Europe has a nuclear power generation capacity of around 157,000 megawatts. Asia is the next largest region in terms of nuclear power with 120,000 MW. North America follows closely behind at 117,000 MW. The nuclear pipeline is dominated by Asia, with 82,000 MW reactors being built globally, but 66,000 MW in Asia. Asia is also home to two-thirds (or 67%) of all nuclear power plants that are in pre-construction. This means the sites have already been chosen and permits obtained, but crews still haven't broken ground. GEM data shows that around 107,000 MW of power is in pre-construction worldwide, with 60,000MW in Asia, 36,600 MW Europe, 8,800 MW North America, and?4,000MW Africa. Asia will become the main nuclear hub once the plants under construction or in pre-construction have been completed. This batch has around 246,000MW?of the 590,000MW global nuclear power generation capacity. China is the leader in the nuclear sector with a capacity of around 65,000 megawatts, followed by India at 32,000 megawatts. Around 8,000 MW in the United States are in development. This would, when completed, represent a roughly 7 % increase in installed nuclear capacity. It is possible that, due to the aggressive policies being implemented in the U.S. Nuclear Sector, additional capacity plans may be developed in the future. This will in turn tighten up the country's supply of uranium and keep the price of uranium prone to surges for the foreseeable. These are the opinions of the columnist, who is also an author. You like this article? Check it out Open Interest The new global financial commentary source (ROI) is your go-to for all the latest news and analysis. ROI provides data-driven, thought-provoking analysis on everything from soybeans to swap rates. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on You can find us on LinkedIn.
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Report: Greek airspace blackout caused by old systems and not cyberattack
Investigators in a recent report said that the eight-hour radio blackout at Greek airports, which forced authorities to clear airspace in the country and divert dozens of flights to other airports was partly due to an outdated communication system. On January 4, air traffic controllers were unable to contact most planes including dozens of aircraft heading towards Greek airports as the radio frequencies dropped and were replaced with static. Experts in aviation said that the incident was unprecedented for a country in southern Europe. The report of a five member investigating committee, commissioned by government, found that the exact cause of the problem, where multiple systems went 'out of sync', caused a scramble of communications between towers at airports and planes is still unclear. The report rated the incident "low risk" in terms of?flight security, ruled out cyberattacks and stated that pilots and air traffic controllers were able to respond effectively. The report was sent to Greece's Transport Ministry and published late Tuesday. It states that the voice communication system of the Civil Aviation Authority and its critical supporting telecommunications are outdated technologies, no longer supported and without operational guarantees. According to the report, "the Greek telecommunications company OTE has been warning civil aviation authorities since 2019 that their systems need new circuits." The report called for new transceivers, among other things. The report also called for the creation of an?emergency response?mechanism that would be shared between OTE and the Civil Aviation Authority. A transport ministry official said that Greece's systems were in line with EU Standards in response to the report. However, the ministry has implemented a plan for upgrading its systems, which is expected to be complete in 2028. Unions have called for upgrades since years but say that the system is unsafe, particularly in light of the tourism boom, with millions flying into Greece each year. They said on Wednesday that the report vindicated their protests. Reporting by Renee Maltezou, Editing by Edward McAllister & Sharon Singleton
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Wall Street Journal, January 14, 2019
These are the most popular stories from the Wall Street Journal. ? The accuracy of these stories has not been verified by the site. Saks Global, a high-end department store conglomerate, filed for bankruptcy protection on Tuesday night in what was one of the biggest retail collapses since pandemic. The Trump administration gave the formal green light on Tuesday to China-bound sales of Nvidia’s second-most powerful AI chip. They put in place a rule which will likely start shipments of?H200, despite concerns from China hawks?in Washington. Jamie Dimon, CEO of JP Morgan Chase, defended the Federal Reserve on Tuesday after it was subpoenaed to appear by the Justice Department. Dimon said that "anything" that undermines the independence of the central bank "is not a good thing." Netflix is planning to make a cash-only?offer on Warner Bros Discovery’s streaming and studio businesses. The U.S. government will invest $1 billion in the growing rocket motor business of L3Harris Technologies, ensuring a steady supply of?motors for a wide range missiles such as Tomahawks?and Patriot interceptors. The U.S. government will invest $1 Billion in L3Harris Technologies, a growing rocket motor company. This investment will ensure a steady supply of motors that are needed for many missiles including Tomahawks and Patriot interceptors. Diana Shipping has said that Genco Shipping & Trading's board rejected its bid to acquire the company without engaging with it.
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Is the US Uranium Market about to go Nuclear in 2026? Maguire
The market for uranium, the primary fuel in nuclear power plants, is becoming tighter as reactor construction increases. This is setting up a price rally for uranium this year. Data from Canadian uranium mining company Cameco showed that U.S. spot uranium prices in 2025 ended at $82 per pound, a rise of $10 or 12 percent compared to the end 2024. This is a far cry from the increase of over 100% that was seen in the 2025 share prices of major uranium producers and fuel suppliers, whose shares soared due to the U.S. Government's efforts to restart nuclear power production. While equities linked to the "nuclear supply" chain are likely to continue to be popular with investors, the industry is now focusing on the state of uranium which is experiencing a growing structural deficit due to consumption exceeding production. The uranium shortage is being exacerbated by the surge in demand for electricity due to the AI-driven boom in data centres, as well as the construction of modular reactors. This is especially true in the U.S., where the mine supply has been at historic lows over the last decade. The U.S. mine uranium production is increasing again, but it is still only expected to be 1 million pounds in comparison to the 50 million pounds consumed annually by the U.S. The mismatch between supply and demand is causing the U.S. price of uranium to rise, which could intensify by 2026. While spot prices are still below $90 per pound, executives who track discussions between mine suppliers?and power?generators?have noted that long-term contracts for pricing are closer to $100. If deals are confirmed above or at the psychologically important $100 mark - which was last consistently exceeded in 2007 – that could help spark new momentum in spot markets and establish uranium among 2026's most exciting markets. STOCKS DRAWDOWN In recent years, the U.S. supply deficit of uranium was filled by imports from the secondary market. This includes stockpiles at utility companies, decommissioned warheads, and material left over in enrichment plants. The increased purchases of utilities and government agencies has now reduced those secondary supplies. In addition, restrictions on future uranium exports from a belligerent Russia (which will be prohibited in 2028) have also narrowed sources for imports. The combination of reduced stockpiles in the local secondary market, and import restrictions has increased the focus on the spot-market and any new but uncontracted outputs from uranium mining. Investors' increased uranium purchase is further tightening the supply imbalance, and they are another driver of positive market sentiment. The Sprott Physical Uranium Trust's (SPUT) holdings of uranium, the largest fund in the world that stocks physical uranium, increased by 9 millions pounds to reach a record high of 72.5 million pounds by 2025. Investor holdings of nuclear fuel, which is needed to power the sector, are expected to grow as the fleet grows and more reactors start up. This will give prices a boost. Record Nuclear Generation The world's output of nuclear electricity is likely to reach a record by 2025 after several major nuclear power plants reached all-time highs or multi-year peaks. Data from the energy think tank Ember revealed that nuclear-powered electricity supply in China, India South Korea and France will all rise to their highest levels for at least five year in 2025. The nuclear power industry in Japan has recovered after the Fukushima disaster in 2011. It is expected to continue growing in 2026 when the world's biggest reactor will be restarted in Niigata Prefecture. In 2026, new nuclear reactors will also be operational in China, India Turkey and the United States, which will help to boost total nuclear power production to new record highs. Power Pipeline Europe is home to the majority of nuclear power reactors in the world, with 39% located there. Global Energy Monitor data shows that Europe has a nuclear power generation capacity of around 157,000 megawatts. Asia has the second largest nuclear footprint, with 120,000 MW. North America follows closely behind at 117,000 MW. The nuclear pipeline is dominated by Asia, with 82,000 MW reactors being built globally, but 66,000 MW in Asia. Asia is also home to two-thirds (or 67%) of all nuclear power plants that are in pre-construction. This means the sites have already been chosen and permits obtained, but crews still haven't broken ground. GEM data shows that 107,000 MW of power is in the pre-construction stage around the world. This includes 60,000 MW Asia, 36,000 in Europe, 8,0 MW North America, and 4,000 in Africa. Asia will become the main nuclear power hub in the world once the plants under construction or in pre-construction have been completed. This batch has around 246,000 MW out of the total 590,000MW nuclear power generation capacity. China is the leader in the nuclear sector with a capacity of around 65,000 megawatts, followed by India at 32,000 megawatts. Around 8,000 MW in the United States are in development. This would, when completed, represent a roughly 7 % increase in installed nuclear capacity. It is possible that, due to the aggressive policies being implemented in the U.S. Nuclear Sector, additional capacity plans may be developed in the future. This will in turn tighten up the country's supply of uranium and keep the price of uranium prone to surges for the foreseeable. These are the opinions of the columnist, who is also an author. You like this article? Check it out Open Interest The new global financial commentary source (ROI) is your go-to for all the latest news and analysis. ROI provides data-driven, thought-provoking analysis on everything from soybeans to swap rates. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on You can find us on LinkedIn.
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In Thailand, crane accident kills 19 and injures 80 after it falls onto a train
Police said that a train derailed on Wednesday in northeastern Thailand after a crane fell?on to three of its carriages. At least 19 people were killed and about 80 injured. The accident occurred on Wednesday morning, in the Sikhio District of Nakhon Ratchasima Province, 230 kilometers (143 miles), northeast of Bangkok. It happened on a train from the capital heading for Ubon Ratchathani. The local police informed? Local police told? The team backed off for safety reasons after discovering that 19 bodies had been recovered. However, there were still some bodies inside the train carriages, which could not be removed because the crane began to move. In a press release, Transport Minister Phiphat Ratchakitprakarn said that there were 195 people on board. He also ordered an extensive investigation. He said that the victims were found in two of three carriages struck by the crane. The crane collapsed while working on a high speed rail project, and struck a passing train. This caused it to derail?and briefly catch blaze. The ministry shared images of carriages overturned near shrubland, and firefighters extinguishing an blaze while smoke billowed out. The elevated high-speed railway line is one of many under construction in Thailand. It was built above the existing rail track.
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US warns of urgent safety after two fatal crashes involving airbags
The National Highway Traffic Safety Administration issued an urgent alert to used car owners, buyers and repair shops on Tuesday after two more drivers died in crashes caused by unsafe Chinese airbag inflators which were likely illegally imported. Auto safety agency reported that it knew of 10 accidents involving ruptured replacement inflators manufactured in China by Jilin Province Detiannuo Automobile Safety System Co. Ltd. (also known as DTN) and likely illegally imported to the United States. NHTSA reported that eight drivers were killed in otherwise avoidable accidents, and two others suffered serious injuries after their original airbags had been replaced by substandard ones. NHTSA stated that the airbag inflators?DTN malfunctioned during crashes, "sending large metallic fragments into driver's chests, necks and eyes." NHTSA opened an investigation in October into DTN replacement airbags following?eight crashes resulting in six deaths. NHTSA has partnered with law enforcement agencies in order to investigate any illegal activities related to the importation of DTN replacement inflators. NHTSA could not confirm that the risks are limited to these models or makes, but all of the replacement airbags in fatal crashes were installed on used Chevrolet Malibu and Hyundai Sonata cars. Hyundai Motor expressed concern over reports that counterfeit airbag inflators were installed as replacement parts on three older Sonata cars. Hyundai said that these 'dangerous' components were not authorized or supplied by the company and were installed on vehicles with salvaged titles or rebuilt titles. "Protecting customers is our number one priority. We 'fully support NHTSA in its ongoing efforts to identify counterfeit inflators." General Motors, the maker of Chevrolets, declined to comment. DTN likewise did not immediately respond to an inquiry for comment. NHTSA Administrator Jonathan Morrison stated that the agency is focused on the industry and the consumers. The agency issued an alert to auto repair industries to be on the lookout and to notify NHTSA as soon as they have any information regarding these inflators. As DTN acknowledged on its site, inflators were prohibited in the United States. NHTSA stated that whoever is bringing these inflators into the country and installing then is putting American family members at risk. If you are buying a used vehicle that was involved in an accident where the airbag deployed, inspect it immediately to make sure the replacement air bag is equivalent to the original. (Reporting and editing by Franklin Paul, Nick Zieminski, and David Shepardson from Washington)
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Officials say that a drone attack in Ukraine has ignited an industrial fire in Rostov-on Don, Russia.
Regional officials reported on Wednesday that a Ukrainian drone attack on Rostov-on-Don overnight resulted in?two fires, four injuries and damage to apartment buildings. Yuri Slyusar is the governor of Russia's Rostov Region. He said that four people were injured, including a child aged four, when debris from?fallen drones damaged their apartment. Rostov-on Don is the administrative centre of Rostov Region. Slyusar, a Telegram user, said that all the injured were hospitalized. He refused to say which industrial facility was on fire, but said that one of the blazes had been extinguished and the other contained by Wednesday morning. Aleksandr Skryabin said that temporary housing was provided for families displaced from damaged apartments. It was not possible to determine the full impact of this attack immediately. Ukraine has not commented on the attack. Ukraine used drones against targets in Russia. They claim that such attacks are meant to weaken Moscow's energy and military infrastructure, and to respond to Russia's ongoing strikes on Ukrainian cities. The war Moscow was launched nearly four years ago. Rostov on Don, a major transport and logistic hub near Ukraine, is home to key military headquarters, and it's also a centre of operations for Moscow. Drones are increasingly targeting this area. (Reporting and editing by Tom Hogue in Melbourne, and Thomas Derpinghaus.)
Houthis alert shipowners in brand-new stage of Red Sea project: Prepare to be assaulted
On a warm spring night in Athens, soon before midnight, a senior executive at a. Greek shipping business noticed an uncommon e-mail had actually landed in. his personal inbox.
The message, which was also sent out to the supervisor's company. email address, warned that one of the business's vessels. traveling through the Red Sea was at danger of being assaulted by. Yemen's Iranian-backed Houthi militia.
The Greek-managed ship had actually breached a Houthi-imposed transit. ban by docking at an Israeli port and would be straight. targeted by the Yemeni Army in any area they deem. proper, checked out the message, composed in English and examined. .
You bear the obligation and consequences of consisting of. the vessel in the restriction list, said the e-mail, signed by the. Yemen-based Humanitarian Operations Coordination Center (HOCC),. a body established in February to liaise in between Houthi forces and. commercial shipping operators.
The Houthis have carried out nearly 100 attacks on ships. crossing the Red Sea considering that November, acting in solidarity with. Palestinians in Israel's year-long war in Gaza. They have sunk. two vessels, seized another and eliminated a minimum of four seafarers.
The e-mail, got at the end of May, alerted of. sanctions for the entire business's fleet if the vessel. continued to violate the ban criteria and go into the ports of. the taking over Israeli entity.
The executive and the business decreased to be named for. security factors.
The caution message was the first of more than a lots. significantly menacing emails sent out to a minimum of 6 Greek shipping. companies given that May amid increasing geopolitical stress in the. Middle East, according to 6 market sources with direct. knowledge of the emails and 2 with indirect knowledge.
Because last year, the Houthis have been firing missiles,. sending armed drones and launching boats packed with explosives. at business ships with ties to Israeli, U.S. and UK entities.
The e-mail campaign, which has not been formerly reported,. suggests that Houthi rebels are casting their net larger and. targeting Greek merchant ships with little or no connection to. Israel.
The dangers were also, for the first time in current months,. directed at entire fleets, increasing the threats for those. vessels still trying to cross the Red Sea.
Your ships breached the choice of Yemen Armed Forces,. read a separate e-mail sent out in June from a Yemeni federal government web. domain to the very first business weeks later on and to another Greek. shipping company, which also decreased to be called. For that reason,. penalties will be imposed on all vessels of your business ... Best Regards, Yemen Navy.
Yemen, which lies at the entryway to the Red Sea, has been. embroiled in years of civil war. In 2014, the Houthis took. control of the capital, Sanaa, and ousted the internationally. acknowledged government. In January, the United States put the. Houthis back on its list of terrorist groups.
Gotten in touch with , Houthi officials declined to confirm. they had sent out the emails or provide any extra comment,. saying that was classified military details.
Reuters might not figure out whether the e-mails had actually been. likewise sent to other foreign shipping companies.
Greek-owned ships, which represent among the biggest. fleets in the world, consist of nearly 30% of the attacks brought. out by Houthi forces to early September, according to Lloyd's. List Intelligence information that did not define whether those ships. had any ties with Israel.
In August, the Houthi militia - which is part of Iran's Axis. of Resistance alliance of anti-Israel irregular armed groups -. assaulted the Sounion tanker leaving it on fire for weeks before. it might be towed to a much safer area.
The strikes have actually prompted lots of cargoes to take a much longer. route around Africa. Traffic through the Suez Canal has fallen. from around 2,000 transits each month before November 2023 to. around 800 in August, Lloyd's List Intelligence information revealed.
Stress in the Middle East reached a new peak on Tuesday as. Iran hit Israel with more than 180 missiles in retaliation for. the killing of militant leaders in Lebanon, including Hezbollah. leader Sayyed Hassan Nasrallah on Friday.
BRAND-NEW PHASE
The European Union's naval force Aspides, which has helped. more than 200 ships to sail securely through the Red Sea,. validated the evolution of Houthis' tactics in a closed door. meeting with shipping business in early September, according to. a file evaluated .
In the file, shown shipping business, Aspides. said the Houthis' decision to extend warnings to entire fleets. marked the beginning of the fourth stage of their military. campaign in the Red Sea.
Aspides likewise urged ship owners to turn off their Automatic. Identification System (AIS) transponders, which reveals a vessel's. position and acts as a navigational aid to nearby ships, stating. they needed to shut it off or be shot.
Aspides said the Houthis' rocket strikes had 75% accuracy. when aimed at vessels running with the AIS tracking system on. However 96% of attacks missed out on when AIS was off, according to the. exact same instruction.
Aspides did not right away respond to a Reuters request for. comment.
The Houthis' e-mail project began in February with messages. sent out to shipowners, insurer and the main seafarers. union from HOCC.
These preliminary e-mails, two of which were seen ,. signaled the market the Houthis had actually enforced a Red Sea travel. restriction on certain vessels, although they did not explicitly caution. companies of an imminent attack.
The messages sent after May were more enormous.
At least 2 Greek-operated shipping companies that. gotten e-mail hazards have actually chosen to end such journeys via the. Red Sea, 2 sources with direct understanding informed Reuters,. declining to recognize the business for security factors.
An executive at a third shipping company, which has also. received a letter, said they decided to end service with Israel. in order to be able to continue to utilize the Red Sea path.
If safe transit through the Red Sea can not be. ensured, business have a responsibility to act-- even if that indicates. postponing their shipment windows, stated Stephen Cotton, General. Secretary of the International Transport Workers' Federation,. the leading union organisation for seafarers, which received an. email from HOCC in February. The lives of the seafarers depend. on it.
The e-mail campaign has actually increased alarm among shipping. business. Insurance coverage costs for Western ship owners' have already. jumped because of the Houthi's attacks, with some insurance companies. suspending cover completely, the sources informed Reuters.
Greece-based Conbulk Shipmanagement Corporation stopped Red. Sea voyages after its vessel MV Groton was assaulted twice in. August.
No (Conbulk) vessel is selling the Red Sea. It. generally pertains to the team security. As soon as the team is in. danger, all the discussion stops, Conbulk Shipmanagement CEO. Dimitris Dalakouras told a Capital Link shipping conference in. London on Sept. 10.
Torben Kolln, managing director of German-based container. delivering group Leonhardt & & Blumberg, stated the Red Sea and broader. Gulf of Aden was a no go area for their fleet.
Gotten in touch with , the companies did not respond to a. ask for discuss whether they had been targeted by the. Houthi email project.
Some business continue to cross the Red Sea due to binding. long-lasting contracts with charterers or due to the fact that they need to. transfer goods because particular area.
The Red Sea stays the fastest way to bring products to. customers in Europe and Asia.
The Houthis have not stopped all traffic and most of. Chinese and Russian-owned ships - which they do not view as. associated with Israel - are able to cruise through unhindered. with lower insurance expenses.
We are re-assuring the ships belonging to business that. have no connection with the Israeli opponent that they are safe and. have freedom (of movement) and (to) keep the AIS devices going. on all the time, according to an audio recording of a Houthi. message broadcast to ships in the Red Sea in September shared. with Reuters.
Thank you for your cooperation. Out..
(source: Reuters)