A Pentagon study relating to the period between December and February. Attacks by pro-Iranian militias in response to the war in Gaza have affected 65 countries and forced more than 29 shipping and energy companies to alter sea routes. Insurance premiums and pollution have also increased.
Sanaa () – Between December and February, attacks by the Houthis – the pro-Iranian militias that control part of Yemen, including the capital, Sanaa – against ships transiting the route through the Red Sea have caused a collapse of 90 % of container ship shipments and trade. A study by the Pentagon, the United States Department of Defense, shows that the attacks have affected 65 countries in the world and have forced some 29 large shipping and energy companies to alter their maritime routes.
Among the affected companies are sector giants such as British Petroleum, Evergreen, CMA CGM, Maersk, Qatar Energy and Shell. Many ships opted for the route past the Cape of Good Hope in South Africa to avoid missiles and drones, but that means adding 11,000 nautical miles and at least 10 days of travel to each shipment and the resulting increase in fuel costs. , which represents an increase in prices of up to around a million dollars for each trip.
According to the report, which is the first comprehensive assessment of the economic impact of the pro-Gaza military campaign by pro-Iranian rebel militias in Yemen, insurance premiums for transits along the controversial route have also increased substantially. In mid-February premiums rose to 0.7%-1.0% of the total value of the vessel, compared to less than 0.1% in the period before December 2023.
“The threats to transit through the Red Sea – explain Pentagon experts – add to the current tension in global maritime transport caused by the interruptions of the Panama Canal due to drought.” The United States and Britain have launched repeated airstrikes against the Sana’a-based Houthis in an attempt to reduce their ability to attack ships in the region, while attempting to cut off their sources of income and impose new financial sanctions. However, the militants have not given up so far and the economic consequences have continued to increase for shipping companies and companies around the world.
The Houthis began launching offensives in 2023 to put pressure on Israel and its allies over the war in the Strip and have repeatedly attacked in recent weeks: on June 12, a cargo ship called Tutor suffered serious flooding in its engine room. after the first (successful) attack with a maritime drone. The next day, a small cargo ship caught fire after being hit by two shells. The attacks have also had an impact on humanitarian aid efforts: Aid to Sudan and Yemen was delayed for weeks due to longer routes through Africa.
This crisis has far-reaching implications not only for shipping but also for the environment and the global economy. The longer routes required by the current situation have increased distances for freighters and oil tankers by up to 53%, causing an increase in CO2 emissions due to the additional fuel consumed. From an economic point of view, the crisis has triggered, as has already been seen, transportation rates and the cost of insurance, contributing to inflation and negatively influencing the regional and international maritime economy. Analysts and experts say the Red Sea shipping crisis is a reminder of the interconnectedness of global trade and the importance of maintaining safe and open shipping routes. As the situation evolves, the international community must work together to navigate these turbulent waters and mitigate the economic and environmental consequences.
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