Global trade woes mount as shipping costs rise
The significance of the Red Sea shipping route for global trade is enormous. But for over six months now, Houthi militias from Yemen have been attacking ships in the region for their owners' or operators' ties to Israel. The attacks come as Israel executes its war against the militant group Hamas in Gaza following its massacre of Israeli citizens on October 7 of last year.
On June 20, for instance, the Houthis, who say they are fighting for the Palestinian cause, sank a coal ship with a drone strike.
In response to the Houthi attacks, US and British military vessels have repeatedly targeted militia positions in Yemen over the past several months. Additionally, warships from two international coalitions are operating in the region to secure maritime traffic along the Yemeni coast. The German Navy, for one, is part of the EU naval mission Aspides.
Global trade has been under immense pressure since the Israeli-Hamas war broke out in October. The offshoot conflict in the Red Sea has meant higher freight costs and increased expenses for insuring commercial trade goods.
Shipowners are confronted with higher insurance premiums as the risk of losing a vessel has........
© Deutsche Welle
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