For Import-Dependent West, Costs Mount While Houthis Attack Sea Lanes
Until the waterway is proven safe trade will avoid the area or risk it at a premium, forcing up the cost of imports on which the West relies.
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Until the waterway is proven safe trade will avoid the area or risk it at a premium, forcing up the cost of imports on which the West relies.
A "possible explosion" struck a key shipping lane off Yemen Monday, the latest incident in the vital waterway threatened by Huthi rebels.
Australia's left-wing Labor government is dithering over a direct U.S. request to join the naval fleet actively patrolling the Red Sea.
Destroyer downs suspected Houthi drone over Red Sea, as repeated attempts to attack merchant shipping, the lifeblood of the West, continue.
A large container ship was struck by a projectile fired from Yemen, causing some cargo to fall overboard and setting a fire on the ship.