Following recent attacks by Yemen's Iran-aligned Houthi militia on two of its ships in the Red Sea, Star Bulk, a Greece-headquartered shipping company, announced it will halt sailings through the area. The attacks have prompted concerns globally, affecting supply chains and increasing costs for food, fuel, medicine, and humanitarian assistance by up to $1 million in fuel costs for ships rerouting to northern Europe via the Cape of Good Hope. The U.S. has officially re-designated the Houthis as a terrorist group, and new sanctions have been implemented against them. The increased aggression, especially since early December, has forced many shipping companies to reroute vessels away from the Red Sea and the Suez Canal, significantly impacting global supply chains between Asia and Europe, and potentially leading to job losses, especially in countries like India. An industry agreement now allows seafarers to refuse to sail through the Red Sea due to the escalated risk of attacks.
⚠️ US SANCTIONS AGAINST HOUTHIS OVER RED SEA ATTACKS TAKE EFFECT (Reuters) U.S. "Specially Designated Global Terrorist" sanctions against Houthis for their ties to attacks on commercial shipping in the Red Sea took effect on Friday, the U.S. Department of Treasury said in a…
⚠️ SEAFARERS CAN REFUSE TO SAIL THROUGH RED SEA AS HOUTHIS STEP UP ATTACKS -INDUSTRY (Reuters) Seafarers have the right to refuse to sail on ships passing through the Red Sea in a new industry agreement as the situation escalates and further vessels are attacked by Yemen's… https://t.co/36g8zoQAnZ
Shipping companies have rerouted container vessels away from the Red Sea to avoid Houthi militant attacks that have multiplied since early December, disrupting supply chains for firms reliant on the Suez Canal to get products from Asia to Europe. https://t.co/ftbLUpZp7l
Missile and drone attacks in the Red Sea by Yemen's Houthi militants have forced many ocean freight firms to re-route vessels, upending global supply chains. In India, small exporters have warned that job losses could soar if the attacks become prolonged https://t.co/9sWaxD3hhF
Houthi attacks on ships in the Red Sea & nearby Gulf of Aden have raised costs for businesses. The longer route can add $1 million in fuel costs for a ship bound for northern Europe around the Cape of Good Hope — costs generally passed along to consumers. https://t.co/AG7VBb66Yh https://t.co/MSn5NwmNAd
#BREAKING: The Iran-backed Houthis in Yemen are officially re-designated as terrorists by the US. https://t.co/gtmpdrRLjF
The reclassification of the Houthis as a terrorist group takes effect today. https://t.co/hdfe5mITrR
The Houthis’ attacks on ships in the Red Sea are hurting people around the world, especially the poorest and most vulnerable. Aggressive Houthi acts mean rerouting thousands of ships, causing delays and increasing the cost of food, fuel, medicine, and humanitarian assistance. https://t.co/2DzHilVN35
#Greece-headquartered Star Bulk will halt sailings through the Red Sea after #Yemen’s Iran-aligned Houthi militia attacked two of its ships in recent days, the group’s CEO says. https://t.co/e3cr76Vh8F