2024-02-18 21:59

Militant group says one of latest ships hit at risk of sinking Houthis vow to keep attacking while Gaza war rages Seafarers at increasing risk, demand better conditions LONDON/CAIRO, Feb 19 (Reuters) - Yemen's Houthi militants said on Monday they had attacked the Rubymar cargo vessel in the Gulf of Aden which was at risk of sinking, raising the stakes in their campaign to disrupt global shipping in solidarity with Palestinians in the Gaza war. The Iran-aligned Houthis have made repeated drone and missile strikes since November in the Red Sea and Bab al-Mandab Strait. U.S. and British forces have responded with multiple strikes on Houthi facilities but have so far failed to halt the attacks. Houthi military spokesperson Yahya Sarea said in a statement that the Rubymar's crew was safe but that the ship was badly damaged and at risk of sinking. The Belize-flagged, British-registered and Lebanese-managed vessel was attacked on Sunday. The Houthis had also shot down a U.S drone over the Yemeni port Hodeidah, Sarea added. The U.S. military's Central Command (CENTCOM) confirmed that two anti-ship ballistic missiles were launched from Houthi controlled areas of Yemen and targeted the Rubymar on Feb 18. "One of the missiles struck the vessel, causing damage. The ship issued a distress call and a coalition warship along with another merchant vessel responded to the call to assist the crew of the Rubymar," CENTCOM said on X. Security firm LSS-SAPU, in charge of safety on the Rubymar, said earlier the crew evacuated after two missiles hit. They were picked up by another commercial ship which took them to Djibouti. "We know she was taking in water," LSS-SAPU told Reuters in comments by phone. "There is nobody on board now ... The owners and managers are considering options for towage." So far, no ships have been sunk nor crew killed from the attacks in a sea lane accounting for about 12% of global maritime traffic. Some companies have chosen to go the longer and more expensive route via the southern tip of Africa. Despite Western attacks on them in Yemen, the Houthis have vowed to continue targeting ships linked to Israel until attacks on Palestinians in the Gaza Strip stop. GREEK-FLAGGED SHIP HIT In a second incident within hours, the Greece-flagged, U.S.-owned bulk carrier Sea Champion with 23 crew members was attacked twice on Monday by missiles, with a window damaged but no injuries to personnel, Greek shipping ministry sources said. The vessel was taking grain from Argentina to Aden. Seafarers in the firing line have signed industry wide agreements giving them rights to refuse to sail on ships passing through the Red Sea and to receive double pay when entering high-risk zones. Shipping industry associations on Monday called for the release of the 25 crew members of the Galaxy Leader commercial ship hijacked by the Houthis three months ago on Nov 19. "The 25 seafarers who make up the crew of the Galaxy Leader are innocent victims of the ongoing aggression against world shipping," the associations said. "It is abhorrent that seafarers were seized by military forces and that they have been kept from their families and loved ones for too long." The CEO of QatarEnergy, the world's second largest exporter of liquefied natural gas (LNG) which has stopped sailing via the Red Sea, said the disruption was delaying deliveries. Container shipping, which transports consumer goods, is also starting to feel the impact from re-routing ships. S&P Global Market Intelligence said in a report on Friday that the apparel industry was now expecting higher costs and delays. The Houthis, who control Yemen's most populous regions, have targeted vessels with commercial ties to the United States, Britain and Israel, shipping and insurance sources say. War risk insurance premiums have crept higher and are now around 1% of the value of the vessels, excluding discounts that are applied, adding hundreds of thousands of dollars of additional costs per voyage, insurance sources said. "Shipping companies must weigh up the increased costs and journey times against the risk to their vessels, and, most importantly, the safety of the crew onboard," insurance broker Gallagher Speciality Marine said in a report last week. The European Union on Monday launched a naval mission to the Red Sea "to restore and safeguard freedom of navigation" there, a move welcomed by the World Shipping Council. "The security situation around the Red Sea continues to be dire, with vessels attempting to transit being fired upon with missiles and drones as well as suffering attacks from armed fighters on the water," the WSC said. https://www.reuters.com/world/ambrey-uk-registered-cargo-ship-reported-under-attack-bab-al-mandab-strait-2024-02-18/

2024-02-18 21:47

Feb 19 (Reuters) - A look at the day ahead in Asian markets. China's markets open on Monday after the Lunar New Year holiday, with investors hoping positive momentum across the region last week can continue despite signs that U.S. inflation, and therefore interest rates, may be stickier than thought. Asian stocks are on a decent run - the MSCI Asia & Pacific ex-Japan index posted its best week of the year last week, a gain of 2%, and its longest weekly winning streak in over a year of four 'up' weeks in a row. Was it a coincidence that China was closed? Investors may draw their conclusions on Monday as China reopens for trading. There are signs that the China gloom may be lifting, even if only temporarily. Equities have rebounded from five-year lows, and official figures on Sunday showed that tourism revenues in the Lunar New Year holidays beat pre-COVID levels. The data will offer relief to policymakers battling slowing growth, deflation risks, weak consumer demand and a property sector collapse, although the sustainability of the tourism boost remains uncertain. China's central bank on Sunday left a key policy rate unchanged as expected when rolling over maturing medium-term loans, an indication that benchmark loan prime rates will also be kept on hold later this week. Beijing is striking a delicate balancing act to support the economy at a time when signs of persistent deflationary pressure call for more stimulus. But aggressive easing risks reviving depreciation pressure on the yuan and capital outflows. Surprisingly hot U.S. producer and consumer price inflation figures last week pushed up Treasury yields, strengthened the dollar and raised doubts on how much the Fed will cut rates this year. Is a second wave of inflation forming? This general tightening of financial conditions could temper any optimism in Asian market trading on Monday. Goldman Sachs's emerging market financial conditions index last week touched its highest level in three months. The boom in Japanese markets, meanwhile, shows no sign of fading. The Nikkei rose 4.3% last week and is now up 15% so far this year, supported by growing optimism around corporate Japan's earnings prospects, and a very weak currency. With the Nikkei within a few hundred points of new all-time highs, the market is probably ripe for a spot of profit-taking. But if the dollar holds above 150 yen and launches another test of its recent 33-year peak around 152 yen, a fresh record is on the cards. Asia's economic calendar highlights on Monday are Thailand's fourth-quarter GDP and Japanese machinery orders. China's foreign direct investment data could also be released. Interest rate decisions in South Korea and Indonesia, a flood of PMI reports from across the continent, and Reserve Bank of Australia meeting minutes will help set the tone later in the week. Here are key developments that could provide more direction to markets on Monday: - Thailand GDP (Q4) - Thailand trade (January) - Japan machinery orders (December) https://www.reuters.com/markets/asia/global-markets-view-asia-graphic-pix-2024-02-18/

2024-02-18 19:45

https://www.reuters.com/business/autos-transportation/biden-administration-relax-ev-rule-tailpipe-emissions-ny-times-2024-02-18/

2024-02-18 17:14

https://www.reuters.com/world/europe/french-recycling-plant-fire-housing-900-tonnes-lithium-batteries-2024-02-18/

2024-02-18 16:43

BUENOS AIRES, Feb 18 (Reuters) - Poverty levels in Argentina hit 57.4% in January, the highest in at least 20 years, according to a report by the Catholic University of Argentina (UCA) cited by local media on Sunday. According to the report, the devaluation of the peso currency carried out by President Javier Milei shortly after his inauguration in early December - and the price hikes caused by it - exacerbated poverty levels, which closed the year at 49.5%. "The true inheritance of the caste model: Six out of every 10 Argentines are poor," Milei, a libertarian, said in a social media post late on Saturday. Milei took office promising to "dollarize" the economy, tame an annual inflation rate of more than 200%, eliminate the fiscal deficit and end benefits for Argentina's political dynasties, which Milei calls "the caste." In December, his government rolled out sweeping economic reforms, primarily a 54% peso devaluation against the U.S. dollar, causing Argentines' incomes to collapse as prices shot up. Other measures included slashing energy and transportation subsidies and rolling out tax hikes aimed at reaching fiscal balance. On Friday, Argentina's economy ministry reported a January budget surplus of 518.41 billion pesos ($620.85 million), the first time the number has been in the green since August 2012. Reuters was not immediately able to see a copy of the report. UCA did not respond to a request for comment. ($1 = 835.00 Argentine pesos) https://www.reuters.com/world/americas/poverty-argentina-hits-20-year-high-574-study-says-2024-02-18/

2024-02-18 15:53

https://www.reuters.com/world/us/democratic-us-senator-opposes-biden-pause-liquefied-natural-gas-exports-2024-02-18/