Representatives from five countries are on board the bulker, Danish media reported, which has been at anchor in the Kattegat strait between Denmark and Sweden for a month

The smaller bulk carrier segments vessel sizes have seen Bab el Mandeb transits fall at a far lower rate than capesizes, since the Houthis began their campaign against shipping in November 2023

Treasurer Jim Chalmers said China’s economic struggles meant Australia could lose A$100bn ($63bn) in mining exports over the next four years

The European Naval Force’s (Eunavfor) operation was launched in late 2008 to combat growing levels of piracy in the waters off Somalia

The Nordic-Baltic 8 countries plus Poland, the Netherlands, Germany and the UK have agreed to take further steps to “disrupt and deter Russia’s shadow fleet” in an announcement made in Tallinn

The trading house said it has recorded a provision of $1.1bn after an external investigation confirmed ‘significant exposure’ for the group