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Iran-backed Houthi militias released dramatic video footage of a devastating attack on oil tanker Cordelia Moon that was struck by missiles and explosive boats on Tuesday.
The video is a clear demonstration of Houthi tactics, developed with Iranian assistance, using unmanned explosive boats to strike ships. The Houthis have developed several speed boats for this purpose, some even disguised as civilian fishing vessels, but they can be packed with nearly 500kg of explosives.
Tanker Trackers, a maritime trade monitoring service, said the ship was empty after delivering one million barrels of Russian crude oil to India. That stands in contrast to an attack on another tanker in August, the Sounion, which was carrying about one million barrels.
The site said this could mean the ship was more explosive. Experts say oil tankers are at greater risk of catastrophic explosions when oxygen is allowed to mix with fumes from the oil, meaning full tankers have less oxygen in the mix and are more likely to burn, rather than explode.
The Houthis said the Cordelia Moon was a British vessel, but according to Washington Institute for Near East Policy's Noam Raydan, who has tracked attacks on tankers in detail, the vessel is managed by an Indian company called Margao Marine Solutions.
On Tuesday, it was reported that another vessel had sustained damage after being hit with missiles and a sea drone off Yemen's Red Sea port of Hodeidah, maritime security agencies and sources monitoring the area said. It is now clear that the Cordelia Moon suffered severe damage in the attack, although the crew of the ship was reported safe.
British security firm Ambrey and the Joint Maritime Information Centre said after suffering damage to the port side, it was proceeding to its next port of call. The ship had previously reported seeing explosions in the water nearby, which security sources said were probably failed missile attacks.
The second vessel, which sources said was a Liberia-flagged bulker, sustained damage after it was hit by a missile about 180km north-west of Hodeidah, Ambrey and the sources said. The firm said it was bound for Suez.
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China
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Japan
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Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
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Director: Christian Carion
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Rating: 2/5
MATCH INFO
Manchester City 1 Chelsea 0
De Bruyne (70')
Man of the Match: Kevin de Bruyne (Manchester City)
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Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory