The International Maritime Organization (IMO) is working tirelessly to resolve the Red Sea crisis, which is causing significant disruptions to global trade, according to its head, Arsenio Dominguez. Yemen’s Huthi rebels, with support from Iran, have been launching numerous attacks on ships in the Red Sea since November. These attacks target vessels en route to Israel in solidarity with those living in the war-stricken Gaza Strip. Despite retaliatory strikes by the US and UK, the rebels continue to launch attacks, as seen with their recent targeting of the US ship Star Nasia and the UK vessel Morning Tide. The IMO, responsible for sea security as a United Nations agency, aims to facilitate discussions between parties to prevent further escalation and restore a safe maritime environment. Dominguez emphasized the organization’s ongoing efforts to coordinate action that will lead to a resolution.
The Red Sea region plays a crucial role in global trade, with around 12 percent of maritime trade passing through the Bab el-Mandeb Strait, controlling access to the southern Red Sea. However, many shipowners have opted to cease operations in the Red Sea, choosing longer routes around the southern tip of Africa instead. This alternative results in increased transportation costs and ultimately drives up cargo prices. Dominguez acknowledged that this solution is not ideal. He explained that over 60 percent of the annual tonnage that normally transits through the Suez Canal is now taking the longer route, leading to higher insurance costs and increased fuel consumption. Moreover, crew members endure the additional burden of spending extra days at sea.
The IMO’s objective is to provide practical and operational measures that allow ships to continue operating. Despite the challenges, Dominguez maintains optimism about finding a resolution to the conflict. The situation continues to impact global trade, affecting various industries and economies. Therefore, finding a swift and effective solution is of utmost importance.
In carrying out its mission, the IMO relies on the cooperation and collaboration of all stakeholders involved in the maritime industry. The organization aims to ensure the smooth functioning of international trade, minimize disruptions, and protect the interests of all those involved. As the Red Sea crisis persists, it remains vital for governments, institutions, and relevant parties to engage in constructive dialogue and work towards a peaceful resolution.
In conclusion, the IMO is working relentlessly to address the Red Sea crisis and mitigate its impact on global trade. The organization’s goal is to establish a safe maritime environment and facilitate discussions among key stakeholders. Despite the challenges, the IMO remains committed to finding practical solutions that allow ships to continue their operations. By focusing on dialogue, cooperation, and coordination, there is hope for a positive outcome that safeguards the interests of the global community.
