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Houthis fire at Singapore-owned vessels in Red Sea

  • Market: Freight
  • 12/03/24

Yemen's Houthi militants fired two missiles at a Singapore-owned merchant vessel in the Red Sea on 11 March, marking the second attack on a Singapore-owned ship in less than a week.

The missiles did not hit the Liberia-flagged Pinocchio and there were no injuries or damage, the US Central Command (CentCom) said on 12 March. The attack took place between 8.50am (05:50 GMT) and 12.50pm Sana'a time on 11 March. The UK Maritime Trade Operations received a report of the incident 71 nautical miles southwest of Saleef, Yemen.

CentCom said it carried out six self-defence strikes between 2.50pm and 11.30pm Sana'a time on 11 March, destroying an unmanned underwater vessel and 18 anti-ship missiles in Houthi-controlled areas of Yemen.

The Houthis on 8 March fired two anti-ship ballistic missiles from Yemen into the Gulf of Aden at the Propel Fortune, a Singapore-flagged, owned and operated vessel. There were no injuries or damage, CentCom said.

The Houthis recorded a first fatal strike on commercial shipping last week when they attacked the True Confidence in the Gulf of Aden.

Attacks by the Houthi militants have prompted many vessels to take the longer and more expensive route around the Cape of Good Hope, driving up freight rates.


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07/05/25
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07/05/25

Scorpio Tankers' profits plunge in January-March

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16/04/25
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16/04/25

Japan’s Honda to produce more cars in US, less locally

Tokyo, 16 April (Argus) — Japanese car producer Honda will produce a car model at its US facility instead of its domestic facility from as early as June, the company told Argus today, possibly to avoid the US' tariffs on foreign car deliveries. Honda will stop manufacturing the Civic Hybrid 5-door model at the country's eastern Yorii plant during June-July and switch the production to its US plant in the state of Indianna, the representative of the firm told Argus . Honda produced 3,000 units of the model during February and March, he added. This comes as part of the company's mid-to long term "optimisation strategy", according to the firm, reiterating that theproduction switch is not a countermeasure against the US' across-the-board 25pc tariff on automobile imports that took effect on 3 April. But this may not be entirely convincing since Honda just started producing the model in February, leaving room for speculation that the transfer is part of a wider strategy to reduce delivery costs to the US market. Honda did not disclose whether the Indiana plant will procure auto parts from its suppliers in Canada or Mexico . Japanese auto industry is still bracing for further developments in the US tariff policy on automobile and auto parts, although US president Donald Trump on 14 April suggested possibly pausing the tariff. Tokyo and Washington will hold a ministerial talk this week to negotiate trade issues, including the levy on auto delivery, along with the 24pc "reciprocal" tariffs the Trump administration separately imposed on Japanese imports. Japanese government is hoping to negotiate for a better tariff deal during the 90-day pause on the reciprocal tariff imposition by the US government, and the automobile industry is seen as a key sector to settle the deal. The US president has long expressed his dissatisfaction against the auto trade imbalance between two countries. Japan exported around 1.3mn units of passenger vehicles to the US in 2024, while Japan purchased around 23,000 units of US passenger vehicles in 2023. By Yusuke Maekawa Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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14/04/25
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14/04/25

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