The first fatal attack on a commercial vessel in the Red Sea since Iran-backed Houthi rebels began targeting ships late last year has laid bare the enormous challenge of restoring safe passage along one of the world’s most important trade routes.
At least three crew members were killed and four others injured in the assault Wednesday on the M/V True Confidence, a Liberian-owned bulk carrier, one of the ships that transport dry cargo such as grain and iron ore.
The deadly strike marks a significant escalation of the Houthi attacks on ships in the Red Sea and and comes despite a US-led naval coalition to protect the crucial waterway. It also follows an assault late last month that sank a cargo ship, which is now discharging fertilizer into the ocean.
Fewer ships appear to be transiting through the Red Sea and adjoining Suez Canal after the latest attack, according to maritime risks analytics company Windward. Transits have already dropped substantially since December when carriers started avoiding the area and rerouting vessels around the southern tip of Africa.
Windward said the number of bulk carriers anchoring outside ports to the north and south of the Suez Canal surged 225% Wednesday compared with the previous day. “Our data shows that 61% of these (anchored) after 13:30 UTC (18:30 ET), which was the time of the attack,” Windward CEO Ami Daniel told CNN.
He expects the attack will lead to even larger numbers of bulk carriers avoiding the Canal, through which 10-15% of world trade and 30% of container trade passes. “The propensity that something will happen is higher than people thought and the severity of the impact, once something happens, is (worse) than people thought,” he added.
Windward data shows that last month the number of bulk carriers in the Red Sea was already at its lowest level in two years.
Source: https://edition.cnn.com/2024/03/07/business/houthi-red-sea-attack-shipping-costs/index.html
