This is a temporary backup site for TRENDS MENA while our primary website is being restored following a regional disruption affecting Amazon Web Services cloud infrastructure in the GCC.

Search Site

Alujain widens 2025 loss

The increase in loss is due to impairment charges, weaker prices.

Masar 2025 net profit $262m

Higher land plot sales boost revenue and operating income.

Tasnee’s 2025 losses deepen

The petrochemicals' company's revenue also fell 17.7 percent.

DP World 2025 revenue $24.4bn

The profit for the year up 32.2% to reach $1.96bn.

BYD 2025 revenue surges

The EV manufacturer reported net profit of $.3.3bn for 9M 2025.

Explosions reported near two ships off Yemen

  • The first vessel was identified as the Liberia-flagged crude oil tanker Delta Atlantica
  • The second ship was identified as the Panama-flagged crude oil tanker On Phoenix

Two ships reported nearby explosions on Tuesday off the coast of Yemen, maritime security agencies said, though neither event resulted in damage or injuries.

The Red Sea and Gulf of Aden off Yemen have become perilous for shipping with the Huthi rebels, who control areas including the capital Sanaa, launching attacks they say are in solidarity with Palestinians in war-ravaged Gaza.

One ship positioned 63 nautical miles southwest of the rebel-held port city of Hodeida reported two nearby explosions early on Tuesday.

“A small craft was observed in the vicinity acting suspiciously and flashing lights towards the vessel,” the United Kingdom Maritime Trade Operations (UKMTO) said.

The ship was then “attacked by an uncrewed surface vehicle (USV), which was successfully disabled”, according to the agency, which is run by the British navy.

“The vessel and crew are reported safe, and the vessel is proceeding to its next port of call.”

Maritime security firm Ambrey said the ship fit the profile of Huthi targets.

The Joint Maritime Information Center (JMIC), run by a 45-member international naval coalition, identified the vessel as the Liberia-flagged crude oil tanker Delta Atlantica.

A second ship, positioned 97 nautical miles northwest of Hodeida, also reported “an explosion in the vicinity of the vessel”, UKMTO said.

The JMIC identified the ship as the Panama-flagged crude oil tanker On Phoenix.

There was no immediate claim of responsibility, but the strikes were consistent with previous ones by the Iran-backed Huthis that began in November, roughly one month after Hamas’s unprecedented October 7 attacks on southern Israel triggered the war in the Gaza Strip.

Late on Tuesday, US Central Command said it had “successfully destroyed two Iranian-backed Houthi vessels in the Red Sea,” offering no specific details about the targets.

“These vessels presented a clear and imminent threat to U.S. and coalition forces, and merchant vessels in the region,” read a US statement.

The Huthis’ anti-shipping campaign against scores of ships has disrupted maritime traffic in the Red Sea, which usually carries up to 12 percent of global trade.

On June 12, 2023, the Greek-owned bulk carrier Tutor became yet another victim of Houthi aggression when it was struck by missiles and attacked with an explosive-laden drone. Despite efforts from salvage teams dispatched to rescue the vessel, it was confirmed sunk days later

The attacks have triggered reprisal strikes by the United States and Britain on Huthi targets inside Yemen.