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Houthis
07/19/2024
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By Kevin Hughes
Shipping costs are rising all over the world, striking a huge blow to international trade
The impacts of restrictions on shipping in the Red Sea and Panama Canal are now being experienced around the world. Conflicts, economic downturns and restrictions on shipping all over the world are causing shipping costs to surge, straining the free flow of international trade. In the Middle East, for nearly 10 months now, Houthi forces from […]
05/03/2024
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By Cassie B.
Houthi blockades prompt Israeli port of Eilat to lay off half its workers
Blockades by Houthi rebels have seriously compromised the Israeli port of Eilat on the northern tip of the Red Sea, and now half of its workers could lose their jobs due to the resulting financial hit. Last month, Israel’s main labor federation, Histadrut, said that Eilat port management declared its intention to fire half of […]
01/24/2024
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By Richard Brown
Red Sea attacks have DOUBLED the average cost of container shipping
The global shipping industry is grappling with a significant upheaval as the average cost of containers has surged to more than double its previous rate within just one month. The primary driver behind this unprecedented increase is the ongoing disruption caused by Houthi attacks on cargo vessels navigating the Red Sea. These attacks, stemming from […]
01/23/2024
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By Richard Brown
Maersk to customers: Brace for complications, disruptions in Red Sea
The situation in the Red Sea has become increasingly complex following President Joe Biden’s military strikes against Iran-backed Houthi anti-ship missile bases, raising serious concerns about global supply chain stability and economic growth. The Houthi rebels’ continued attacks on commercial vessels in the region have led to significant repercussions for the international shipping industry. Top […]
01/18/2024
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By Ethan Huff
French navy shooting million-dollar missiles at cheap Houthi drones in Red Sea
The amount of money it takes for Houthi rebels in Yemen to launch missile after missile towards Western and Israeli cargo ships traversing the Red Sea is a mere fraction of what it costs, say, France to fund retaliatory missile strikes against the Houthis. The latest reports show that France is spending millions per missile […]
01/11/2024
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By Cassie B.
Oil prices could double as Red Sea attacks continue, experts warn
Energy markets are bracing as attacks and disruptions carried out by Yemen’s Houthi rebels in the Red Sea are expected to send oil prices upward, with Goldman Sachs warning that prices could even double. The Houthis have been enacting what amounts to a blockade of shipping through the Red Sea and conducting ongoing attacks on […]
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