Dry cargo market report
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The Round Table of international shipping associations plus the OCIMF representing the global shipping and oil industry have announced the geographic boundaries of the ‘High Risk Area’ for piracy in the Indian Ocean have been reduced, with new advice issued to merchant ship operators.
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Houthi attacks on ships in the Red Sea continue and many shipowners therefore continue to avoid the area. As no resolution to the conflict is in sight, we assume that the attacks may impact shipping throughout 2024 and that ships may be able to return to normal routings in 2025. According to the In... Please follow the link to continue reading.
States in the Gulf of Guinea region must take responsibility and step-up prosecution efforts when pirates are apprehended by international navies, following the release of three suspected pirates held in custody on board Danish frigate Esbern Snare.
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