Attacks on freighters in the Red Sea massively disrupt world trade

2024-01-02 14:03:31

The attacks by Yemen’s Houthi rebels on freighters are affecting shipping traffic through the Red Sea, and several shipping companies have stopped the passage of their container ships in the region. The shipping connection between the Mediterranean and the Indian Ocean is one of the most important trade routes in the world. If it goes away, delays and higher costs will result. The United States formed an international military coalition to protect shipping in the Red Sea.

In recent weeks, the Iran-aligned Houthi rebels have repeatedly attacked ships traveling through the Bab al-Mandeb Strait with drones and missiles. This narrow passage separates the Arabian Peninsula from Africa and connects the Red Sea with the Gulf of Aden – and thus the Indian Ocean.

The Houthis, who control large parts of Yemen, have also fired rockets directly at Israel over the Gaza war. The Houthis see themselves as part of the self-proclaimed “Axis of Resistance” directed once morest Israel. In addition to the radical Islamic Hamas, this also includes the Shiite Islamist Hezbollah militia in Lebanon, which is also supported by Iran.

The US, which is allied with Israel, is now patrolling the Red Sea area as part of a joint operation with other countries. On Sunday, the US Army said it had sunk three Houthi rebel ships and fired two anti-ship missiles. Ten attackers were killed. Britain said it was prepared to take “direct” action once morest the Yemeni rebels. Spain in particular stands in the way of greater EU involvement in the region.

In mid-December, five of the six largest shipping companies in the world announced that they would no longer send ships through the Red Sea: the Danish Maersk, the German Hapag-Lloyd, the French CMA-CGM, the Italian-Swiss MSC and the Taiwanese Evergreen. The companies welcomed the US-led military operation “Prosperity Guardian”. CMA-CGM and Maersk therefore announced at the end of the year that they would resume traffic.

Hapag-Lloyd, for example, still wants to avoid the route. In addition, the situation remains volatile. The US military action on Sunday was preceded by an attack by the Houthis once morest a Maersk ship. According to the shipping company, there was no major damage to the container ship, but the company suspended transits in the Red Sea once more for 48 hours.

The shipping route from the Mediterranean via the Suez Canal, the Red Sea, Bab al-Mandeb, the Gulf of Aden to the Indian Ocean is busy. Every year around 20,000 ships pass through the Suez Canal on their way from Europe to Asia or vice versa. According to the International Chamber of Shipping (ICS), 12 percent of world trade passes through the Red Sea.

To avoid passage through the Red Sea, the freighters have to circumnavigate Africa, which takes considerably longer. “For an average ship traveling from Asia to Europe, the journey might be extended by six days and fuel costs might increase by $300,000 to $400,000,” says Andreas Krieg, a professor at King’s College in London. However, the resulting price increases for goods are only likely to become noticeable in a few months.

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