International Shipping Companies Suspend Navigation in Red Sea Waters Due to Frequent Attacks by Yemeni Houthi Armed Forces
In recent days, four major international shipping companies have announced the suspension of navigation in the Red Sea following a series of attacks by the Yemeni Houthi armed forces on ships sailing in the region. The attacks have raised concerns about the spillover effect from the Palestinian-Israeli conflict and its impact on international shipping.
The Houthi armed forces have launched missile and drone attacks on ships “associated with Israel” in the Red Sea, claiming it is in support of Palestine. On November 15th, the organization issued a statement announcing the launch of missiles at the “Alanya” and “Palatiyum 3” container ships bound for Israel. The attacks led to the suspension of navigation in the Red Sea by major shipping companies such as Hapag-Lloyd, Maersk Line, Mediterranean Shipping Company, and France’s CMA CGM.
This latest round of attacks by the Houthi armed forces has further heightened tensions in the Red Sea waters, leading to disruptions in international shipping and impacting the global supply chain. The London insurance market has classified the southern waters of the Red Sea as a high-risk area, urging merchant ships to take precautions and acquire additional war insurance.
Yemeni political analyst Ibrahim Jalal warned that the attacks on international shipping by the Houthi armed forces will increase the cost of cargo transportation security, potentially leading to higher commodity prices. Similarly, Eyal Pinko, a senior researcher at the Begin-Sadat Center for Strategic Studies in Israel, emphasized the significance of the Red Sea for trade between Europe and Asia and the potential ramifications on the global economy and supply chains.
The conflict between Israel and the Palestinian Islamic Resistance Movement (Hamas) has also intensified, with Israel launching aggressive attacks in the Gaza Strip. This has further escalated the risk of conflict spillover, as armed groups in Yemen, Lebanon, and Iraq become increasingly involved in the Palestinian-Israeli conflict.
The potential implications of these developments, including the involvement of US military forces, have raised concerns about the outbreak of a regional all-out war, involving countries in the region and the United States. The Russian Satellite News Agency reported that the US Pentagon is considering attacking the Houthi armed forces, heightening fears of an expanded conflict.
As tensions in the Red Sea waters persist, the international community is closely monitoring the situation, with shipping companies and analysts remaining vigilant about the potential impact on international shipping and the global economy.