By Akinsuroju Olubunmi
Red Sea tensions: U.S. strikes yemen as vessel hit amid Houthi escalation.
In a notable escalation, the U.S. military conducted fresh strikes in Yemen against anti-ship ballistic missiles controlled by Houthi rebels. This move comes as a Greek-owned vessel was hit by a missile in the Red Sea, further intensifying concerns over disruptions in global shipping routes.
Attacks by the Iran-allied Houthi militia on ships in the region have impacted companies and raised alarms among major powers. The Houthi actions, seen as an extension of Israel’s ongoing conflict with Palestinian Hamas militants, have prompted the U.S. administration, led by President Joe Biden, to consider reinstating the Houthi rebels on a U.S. list of terrorist organizations.
The White House confirmed additional U.S. strikes, targeting ballistic missiles prepared by the Houthis for launch. Despite these actions, the U.S. emphasizes a desire to avoid further escalation, urging the Houthis to cease their reckless attacks.
The missile strike in the Red Sea hit a Malta-flagged, Greek-owned bulk carrier named Zografia, sailing from Vietnam to Israel. While the vessel was empty of cargo and there were no reported injuries, the incident adds to growing concerns about the safety of maritime routes.
Global repercussions are already evident, with disruptions expected to impact European imports. War risk insurance premiums for shipments through the Red Sea are on the rise, and companies are contemplating route changes to navigate the escalating crisis.
As tensions heighten, some companies are already feeling the impact. French tire maker Michelin plans to halt production in four factories due to delays in the delivery of raw materials. Meanwhile, Japanese shipping operator Nippon Yusen advises vessels to wait in safe waters, and major shipping giant Maersk continues its operations, carrying goods for the U.S. military and government.
Red Sea Escalation, Houthi Strikes