Houthi Rebels are set to end their attacks on commercial shipping in the Middle East, with the exception of vessels that are owned by Israel or fly the Israeli flag.
It has now been over a year since the Houthi’s started targeting cargo ships, but news of the Gaza ceasefire seems to have also influenced the approach of the Yemeni based terrorist group.
They have also said that in the event of any aggression against the republic of Yemen by the US, the UK, or Israel, they will resume attacks on US/UK vessels.
This time last year, we started witnessing carriers diverting their containerships around South Africa to avoid a series of attacks. This instigated a period of heavy disruption for Asia/European supply chains for the weeks and months that followed.
10-12 days was added to every vessel transit and a major shortage of capacity followed as carriers scrambled to find vessels to cover the rotational requirements of the extended routes.
The news may not tempt carriers to return to the Suez Canal route in the near future, who would have to put trust in the Houthi’s new claim.
They have also hired and purchased extra ships during the year, which could leave them facing overcapacity if they were to return through the Red Sea.