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An oil tanker struck a sea mine in the Strait of Hormuz and caught fire, according to Iranian media. Another tanker was hit by a projectile approximately 70 nautical miles northeast of Saudi Arabia.
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Two cargo ships were hit by drones in the Black Sea, with one sinking approximately 24 kilometers off the Bulgarian coast. The origin of the ships and the drones is unknown.
Companies & MarketsLogistics & ShippingIT & Internet
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US startup Parallel Systems is developing battery-powered, autonomous freight wagons intended to replace trucks on routes up to 800 km. The company has received $100 million in investment and plans a commercial launch starting in 2025.
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Rhenus Group plans a network of up to 14 terminals along the Middle Corridor, starting with a trimodal container terminal in Aktau. This project aims to strengthen the connection between Central Asia and Europe, increasing capacity by at least 150,000 TEU.
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A German scanner intended for checking aid deliveries is not being deployed. This is causing delays in the delivery of humanitarian aid.
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The Rhine water level at Kaub continues to be negative at -6 cm, leading to reduced cargo capacity for most vessels. Only isolated freight ships are currently operating on the Middle Rhine between St. Goar and Mainz.
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Hundreds of trucks are backed up at the Gurbulak border crossing between Turkey and Iran. Drivers report significant delays impacting their route planning and income. Iran is increasingly using land trade due to disrupted shipping routes.
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Europe anticipates lower demand and increased kerosene deliveries from Asia starting in November, making shortages unlikely. However, smaller airports remain vulnerable as they are the first to be affected by supply issues.
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An Italian frigate protected a cargo ship belonging to Italia Shipping during its passage through the Bab al-Mandab strait. The operation proceeded without incident. Houthi militia activity threatens shipping traffic in this strategically important region.
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Rerouting around Africa due to the Houthi blockade incurs seven-figure extra costs per round trip for shipping companies. These costs will be passed on to end consumers in cent ranges.
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