The Houthis rebels in Yemen have been causing mayhem in the Red Sea. Most commercial shipping is now closed to the Suez Canal, affecting Europe and Russia in their trade with Asia.
The rebels have also threatened US Navy ships with attack if they retaliate against Houthi strikes. This is perhaps the largest pressure point against Israel that could affect world opinion. Newsweek reports:
A Houthi rebel leader has warned of retaliatory efforts against American warships if the Yemeni group is targeted by the U.S. as part of a newly launched operation to counter attacks on commercial shipping in the Red Sea.
The warning comes a day after Houthi rebels based in Yemen attacked two commercial shipping vessels south of the Red Sea. A spokesperson for the Houthi rebels said on Monday they had attacked two vessels that had alleged links to Israel, Newsweek reported.
The detour is causing serious delays in goods to market. The travel around Africa will cost more fuel and cause delay. If the situation persists, Africa could see an economic boom with more coastal economic activity. The Washington Post continues:
The detour could add as much as a month to time underway, delaying the delivery of goods and the docking of ships that are supposed to continue onward, including to the east coast of the United States and from there back to Asia carrying new loads.
The world’s top 10 container shipping lines are refusing to make the journey through the Red Sea. In recent weeks, Houthi militants have launched missiles at or hijacked ships at the sea’s southern mouth — known as the Bab el-Mandeb, or the Gate of Tears.
Because the world shipping functions on a common insurance market, this will affect the global economy. If Russia or especially China decided to create their own insurance network, their ships could end up being more competitive.
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