Genco CEO Says Trump’s China Ship Fees Will Hammer Farmers, Not China
The largest US-based dry bulk shipper said it is prepared to pass on costs to US exporters or position its ships elsewhere if proposed US fees on Chinese ships go into place.
The U.S. has confirmed new military strikes in Yemen ahead of another successful Houthi missile strike on a Greek-owned, Maltese-flagged bulk carrier and another suspicious approach by small boats in the Southern Red Sea.
U.S. Central Command said at approximately 4:15 a.m. (Sanaa time) on Tuesday, U.S. Forces struck and destroyed four Houthi anti-ship ballistic missiles prepared to launch from Houthi-controlled areas of Yemen.
Hours later, at approximately 1:45 p.m. (Sanaa time), Iranian-backed Houthi militants launched an anti-ship ballistic missile into international shipping lanes in the Southern Red Sea. The Maltese-flagged M/V Zografia reported they were struck but seaworthy and continuing their transit.
The ship, which is empty of cargo, was transiting northbound in the Red Sea from Vietnam to Israel when it was hit approximately 100 nautical miles northwest of the Yemeni port of Saleef. There are injuries reported among the ship’s 24 crew members.
Equasis data shows the Zografia is owned by Bonneure Shipping Corp based in Pireaus, Greece.
In a second incident reported today by the UK Maritime Trade Operations (UKMTO), a vessel was approached by four suspicious small craft in the Southern Red Sea. The craft came within 400 meters of the vessel but departed the area after the ship’s armed guards fired warning shots into the water.
The incidents follow a successful missile strike on the M/V Gibraltar Eagle, owned by U.S.-based Eagle Bulk Shipping (NYSE: EGLE) on Monday in the Gulf of Aden.
Today’s military strikes by the U.S. follow joint strikes on multiple targets in Yemen by the U.S. and UK last Thursday and an another strike on Friday by the U.S. on Houthi radar systems.
The Houthis seem undeterred by the strikes as they continue attacks unabated. Meanwhile, Houthi leaders have threatened U.S. and British ships and warships are considered potential targets in addition to Israeli-linked and -bound ships.
Meanwhile, the U.S. Navy has announced a significant seizure of Iranian weapons destined for Houthi forces in Yemen, marking the first confiscation of such advanced conventional weapons (ACW) since the Houthis began attacking merchant ships in November 2023. The operation took place in the Arabian Sea, near the coast of Somalia, on January 11, 2024, and tragically resulted in the loss of two U.S. Navy SEALs.
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