Since late last year, the Houthis have been attacking ships in the Red Sea, which cargo vessels from Asia have to travel through to reach the Suez Canal.
The collapse of the Francis Scott Key Bridge has halted maritime traffic at the Port of Baltimore, leading to an estimated daily cost of $9 million and potential supply chain disruptions. While the port remains open to trucks, the incident is expected to impact workers and cause delays in package processing. In the long term, it adds pressure to already stressed supply chains, potentially shifting more freight to West Coast ports. Unlike other recent supply chain shocks, the fallout from this collapse is expected to be temporary.
DUBAI, March 24 — A Chinese-owned oil tanker was attacked off Yemen today by ballistic missiles fired by Houthi rebels, who have intensified strikes on Red Sea shipping, the US...
Yemen's Houthis link halt in missile attacks on international shipping to end of Israeli "aggression" in Gaza. Houthi spokesman Mohammed Abdulsalam stated attacks would continue to support Palestinians unless Gaza siege ends and aid flows freely. The ongoing strikes in the Red Sea and Bab al-Mandab Strait have raised shipping risks, prompting warnings and precautions from companies. Seafarers face increased danger, with crews of hijacked vessels calling for international action for their release. The conflict's impact on maritime safety is a growing concern, urging collective efforts for seafarers' safety and the release of detained crew members.
India's ambassador to the UAE, Sunjay Sudhir, highlighted the need for an alternate trade route due to the volatile situation in the Red Sea. He mentioned the India-Middle East-Europe Economic Corridor (IMEC) as a solution, aiming to establish an alternate supply route. I