Shipping firm Maersk says it’s preparing for the resumption of Red Sea voyages following a series of attacks by Houthi rebels in Yemen. The company announced that a U.S.-led multinational naval operation, called Operation Prosperity Guardian, has been set up to protect maritime commerce in the region. The Red Sea and the Suez Canal are vital trade routes for oil, natural gas, grain, and consumer goods between Europe and Asia, and the attacks by the Houthis have caused significant disruptions. Maersk stated that it is working on plans for the first vessels to make the journey through the Red Sea and the Suez Canal, with the aim of resuming operations as soon as possible.
The Houthis, backed by Iran, seized Yemen’s capital, Sanaa, in 2014, sparking a protracted conflict with a Saudi-led coalition seeking to restore the Yemeni government. The rebel group has sporadically targeted ships in the region, but the attacks intensified after the start of the recent Israel-Hamas war. Initially threatening ships going to or coming from Israel, the rebels expanded their targets to include any vessel, resulting in container ships and oil tankers flagged to countries such as Norway and Liberia being attacked or drawing missile fire.
Major shipping companies, including Maersk, have been avoiding the Red Sea and diverting their ships around Africa and the Cape of Good Hope, adding significant time to voyages. This disruption has not only increased fuel costs but also led to higher insurance expenses. However, the deployment of Operation Prosperity Guardian and the increased naval presence in the region is expected to provide enhanced security for commercial shipping through the Red Sea-Gulf of Aden. On Saturday, a U.S. warship intercepted four drones originating from Houthi-controlled areas, and a Norwegian-flagged tanker narrowly avoided an attack. An India-flagged tanker was also damaged in a Houthi attack.
The incidents on Saturday marked the 14th and 15th attacks on commercial shipping by the Houthis since October 17, highlighting the urgency for naval protection in the area. Maersk’s announcement of plans to resume voyages through the Red Sea and the Suez Canal is a positive development for global trade. The company is now focused on preparing the first vessels for the journey, with the goal of returning to normal operations as soon as possible.
The resumption of shipping through the Red Sea and the Suez Canal will alleviate the strain on global supply chains, particularly for oil, natural gas, and consumer goods. It will also contribute to stabilizing fuel prices and reducing transportation costs. As operations are set to resume, companies in the shipping industry will closely monitor the situation in the region, ensuring the safety and security of their vessels and crew members.
