it happened late on tuesday and is the latest in a series of attacks which are prompting major shipping lines to take alternative, longer routes. the international chamber of shipping says that one in five commercial vessels and ships are now avoiding the red sea, which accounts for 12% of global trade. it s led to a near doubling in the cost of container shipping. the attackers say they ll continue to target vessels until palestinians in gaza are allowed sufficient food and medicine. michelle bockmann is principal analyst at the maritime analysts lloyd s list intelligence. thank you for being with us today, michelle. there have been multiple efforts to try and neutralise the threat from these houthi rebels to ships in the area. these latest attacks suggest they are failing. good afternoon. it certainly seems that way at the moment. the us coalition of military support that is meant to be helping that transit through the red sea to the suez canal seems to have failed to deter
planned with coalition partners to degrade and disrupt the hootie attacks. i know stretch this will destroy the movement, they will go on but they have hit a number of key missile sites. those things that the hootie have been utilising to carry out their attacks against shipping in the red sea. houthi. in the next 48 hours we will have to see what the actual assessment is of how much damage was caused to these houthi facilities. administration abilities saying they tried to avoid areas where there might be civilians. we will have to learn if there are any reports of civilian casualties and just how much they were able to destroy. it goes without saying that what rishi sunak was talking about is the bottom line here, the disruption to international shipping through the red sea where so much comes through in the way of shipping
that they simply could tolerate no longer and felt they had to make these attacks against the houthis attic that attacks have been happening for a few weeks, any indication whether strikes are happening now? because it went on for so long. there have been a number of statements from various capitals warning the houthis to back off and they did not. there had been a lot of concern about the fact that they are supported by iran and are using iranians supplied weapons, iranians training. and they are clear on how much the iranians were involved in helping the houthis target ships in the red sea. there was a sense it was getting to be too much and they could not let it go on. and they were beginning to attack vessels and assets in the red sea that were tied to western shipping. and there was a growing sense that
the last 3 4 days have had some sort of linker to western shipping operations. now we are seeing the only vessels that are prepared to take the transit through their mainly being tankers and shipping vessels. a lot of the oil coming from russia to china and india is uninterrupted, for example. it is anybody s guess how this is going to play out. it is a very volatile situation. play out. it is a very volatile situation- play out. it is a very volatile situation. . ~ , ., , . play out. it is a very volatile situation. ., ~ , ., , . ., situation. thank you very much for “oininu us situation. thank you very much for joining us for situation. thank you very much for joining us for that situation. thank you very much for joining us for that analysis - situation. thank you very much for joining us for that analysis today. | the us carmaker, ford, is recalling more than 100,000 of its top selling f 150 trucks. there s a problem with a rear axle hub bolt, which, if it s damaged, could c
Russia is selling oil to India at a price of nearly $80 per barrel, which is $20 above the Western price cap. This is due to tight global oil markets and strong demand for Russian exports. India has become the top buyer of Russian oil since 2022, and the country s low inventory levels and production cuts have contributed to the increase in prices.