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...Saudi Arabia is mandating that leading Chinese technology companies invest in the Gulf kingdom in return for huge deals, as it leverages its petrodollar wealth to boost its domestic tech industry....
...US officials are expanding efforts to lure the Gulf states away from China, including backing a rail and shipping corridor linking India and Europe through the Middle East....
...Iranian forces seized an oil tanker off the coast of Oman as the threat to shipping in the Middle East spilled into one of the world’s most important oil export routes....
...The Houthis, however, have continued to attack shipping, despite multiple strikes by the US and the UK against their military facilities....
...The vessel is operated by Geneva-based Mediterranean Shipping Company, the world’s biggest container shipping line....
...The responsibility for keeping the trade artery open between east and west no longer lies with commercial shipping companies....
...For Saudi, the calculations have been similar to its Gulf neighbour....
...Dubai government-owned DP World has won port concessions in DRC and most recently Tanzania’s Dar es Salaam, a crucial shipping juncture for copper from Zimbabwe and Zambia....
...Henning Gloystein, a director at consultancy Eurasia Group, said such decisions would add “thousands” of miles of travel to trade between Europe and the Indo-Pacific region....
...“The Red Sea shipping route is of great importance to Chinese merchant ships,” Yin said....
...Its initial phase is due to be inaugurated in November when Chinese leader Xi Jinping visits Peru for a summit of the Asia-Pacific Economic Cooperation forum....
...Earlier on Wednesday, the Houthis launched an attack drone and struck a bulk carrier ship in the Gulf of Aden....
...The rebels have continued to attack shipping and US naval vessels....
...Based in Yemen, the Houthis have launched a series of attacks against commercial vessels in the Red Sea and the Gulf of Aden since mid-November using missiles and drones, raising concerns about significant...
...“Shipping capacity is an important bottleneck,” he said, adding the new vessel could sail at “BYD’s planning” rather than leaving cars in port waiting for a ship, which was expensive....
...There are unconfirmed reports that certain Gulf States provided Israel with critical intelligence on the Iranian plot....
...The Saudis may be open to closer military co-operation under Centcom, which would mean de facto co-operation with Israel....
...Maritime tension is just one of several problems facing the global shipping industry....
...The commerce ministry has called for the “healthy development” of the country’s overseas EV expansion, including co-operating more with foreign partners and utilising free trade deals....
...There is, as always, potential for Israel’s enemies to threaten the vital Gulf shipping route through the Strait of Hormuz....
...Parash Jain, HSBC’s head of shipping, ports and Asia transport research, forecast all three carriers could return to profit this year if international travel recovered....
...“The oil market has become too complacent about risks that the Gaza conflict will expand regionally and threaten oil and gas infrastructure and shipping in the Red Sea and Gulf,” said Bob McNally, founder...
...The US has also been drawn into combat with Iranian-backed Houthis who have launched attacks against Israel and commercial shipping in the Red Sea and Gulf of Aden....
...Sheikh Faisal bin Thani Al-Thani, QIA’s chief investment officer of Africa and Asia-Pacific, said the region’s growth made it an appealing investment opportunity....
...The company said it was “co-operating with the European Commission and is committed to defending its reputation as a fully independent and self-supporting economic operator”....
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