Fallout from the Gaza war is endangering international shipping: Yemen’s Houthi rebels, backed by Iran, attacked more than 50 merchant ships in the Red Sea from November 19 to the end of April, according to data from industrial insurer Allianz Commercial. As a result, traffic through the Suez Canal has now decreased significantly. At the beginning of this year, more than 40 percent fewer ships passed through the canal than during peak hours.
The Houthi rebels in Yemen are allied with Iran and, according to the US government, are also financed by Tehran. In the aftermath of the Gaza war, the militia is attacking ships in the Red Sea to disrupt trade with Israel, whose army has been fighting the militant Palestinian organization Hamas in the Gaza Strip since October. At the beginning of March, for example, the cargo ship ‘Rubymar’ sank after an attack off the coast of Yemen.
Because shipping in the Panama Canal is simultaneously suffering from low water levels due to drought, this shortest route from the Atlantic Ocean to the Pacific Ocean also disrupts a second important sea route, according to Allianz.
Attacks hurt global markets
New York-based shipping expert Rahul Khanna writes in his analysis that attacks on ships are a way for terrorists and armed militias to gain notoriety and damage global markets. In addition to conventional weapons, cyber attacks can also have serious consequences for shipping traffic, according to the company. Allianz Commercial is the division of the Munich DAX group that specializes in business and industrial customers; Shipping insurance is part of these activities.
Source: Krone
I am Wallace Jones, an experienced journalist. I specialize in writing for the world section of Today Times Live. With over a decade of experience, I have developed an eye for detail when it comes to reporting on local and global stories. My passion lies in uncovering the truth through my investigative skills and creating thought-provoking content that resonates with readers worldwide.
