By Mohammed Hatem
Jul 16, 2023 (Bloomberg) –A United Nations oil tanker arrived in Yemen on Sunday to begin the risky operation of pumping over a million barrels of crude oil from a decaying tanker in danger of exploding and causing an environmental disaster.
The Nautica arrived at the port of Hodiedah, Yemeni Foreign Minister Ahmed Bin Mubarak tweeted, to start a pumping operation that’s been in the works for years. The ship, moored off the Yemen coast, has been described as a “ticking time bomb.”
The UN says the transfer operation might take up to two weeks.
© 2023 Bloomberg L.P.
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Container ship bookings for China-to-U.S. cargo have surged since the countries declared a 90-day truce on punitive tit-for-tat tariffs last weekend, operators said, spawning traffic jams at Chinese ports and factories that could take weeks to clear.
Container freight spot rates shot up on the transpacific trades this week, with an immediate surge in demand following news of a new 90-day hiatus in the China-US trade war.
Importers rushing to ship Chinese goods to the US using a short reprieve from paralyzing tariffs could provide a much-needed boost to global freighters.
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