World News
Ships Divert Following Red Sea Hijacking
Two ships managed by shipping interests linked to the hijacked Galaxy Leader have diverted their routes following the attack.
The ships diverted their course in the Red Sea and the Gulf of Aden on Sunday, according to a Reuters report.
Two other commercial ships have subsequently diverted their routes, according to maritime news provider Lloyd's List.
The conflict between Israel and Hamas has raised maritime risk in the region. While Israeli ports have not been targetted, the hijack of Galaxy Leader has heightened the risk to international shipping. The ship, which was targeted by the hijackers for its links with Israeli business interests, is reported to be in the Hodeidah port area in Yemen.
Against the background of the escalating conflict, one container line has halted calls to Israeli ports. Risk premiums on ships going to Israel are also up and the Israeli government has announced plans to compensate ships damaged in the conflict.
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| VLSFO | MGO | |||
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| $/mt | +/- | $/mt | +/- | |
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| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
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| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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