Container carrier TSS Pearl has reportedly sunk after a fire onboard the ship last week.
Risk firm W K Wesbter reported TSS PEARL experienced a major fire on board whilst navigating the Red Sea, in a position north west of The Farasan Islands, Saudi Arabia on 5 October 2022.
The 1,853 TEU vessel, built in 2008, sunk 300 kilometres South East of Port Sudan.
All crew abandoned the vessel.
Several containers are now reported to be floating at the site of the sinking, but it is currently unconfirmed if any of the vessel superstructure remains visible.
A fire expert has been instructed to investigate the cause of the fire and the investigations have already started.
It is likely that General Average will also be declared by owners.