Yemen Monitor/Washington/Exclusive:
Houthi attacks have caused a 90% drop in shipping traffic in the Red Sea, according to the US Department of Defense (Pentagon).
A report by the Pentagon’s Defense Intelligence Agency found that the attacks have affected at least 65 countries and forced at least 29 major energy and shipping companies to change their routes, according to “Yemen Monitor” on Thursday.
Among the affected companies are BP, Evergreen, CMA CGM, Maersk, Qatar Energy, and Shell.
Many ships have chosen to sail around the Cape of the Good Hope in South Africa, adding about 11,000 nautical miles and at least 10 days of travel to each voyage, increasing fuel costs by about $1 million per trip.
The report said that insurance premiums for Red Sea shipping have also risen. As of mid-February, insurance premiums have risen to 0.7-1.0% of the total value of the ship, compared to less than 0.1% before December 2023.
Since November, the Houthis have targeted more than 100 commercial ships in the Red Sea and the Gulf of Aden, and recently expanded their operations to the Indian Ocean. They said they were targeting ships linked to Israel, which is waging a brutal offensive in Gaza Strip. However, the Yemeni government and experts say the Houthis’ goals are domestic to escape internal crises and improve their image in the region.
In response, the US and Britain have been carrying out an air strike campaign against the Iranian-backed Houthi armed group since January 11. As a result, the Houthis have announced the expansion of their operations to include US and British ships.
