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In a joint effort, the US and UK and their allies , have conducted targeted strikes against Houthi rebels in Yemen. The objective: to disrupt and degrade the rebels’ capabilities to attack shipping in the Red Sea and safeguard global trade.
The coalition’s action focused on military facilities linked to Houthi unmanned aerial vehicles, ballistic and cruise missiles, as well as coastal radar and air surveillance capabilities. The move comes in response to a series of attacks by the rebels in the Red Sea region, including strikes on vessels and persistent drone and missile offensives.
US Secretary of Defense Lloyd J Austin III emphasized the necessity of the strikes, stating, “Today’s coalition action sends a clear message to the Houthis that they will bear further costs if they do not end their illegal attacks.”
British Prime Minister Rishi Sunak echoed the sentiment, highlighting the repeated warnings from the international community and the Houthis’ continued assaults in the Red Sea. He emphasized the UK’s commitment to defending freedom of navigation and the free flow of trade.
On January 9, US and UK navies successfully thwarted what was described as the largest Houthi attack in the Red Sea to date. The operation intercepted 18 one-way attack UAVs, two anti-ship cruise missiles, and one anti-ship ballistic missile.
While the detailed results of the strikes are still under assessment, early indications suggest a significant blow to the Houthis’ ability to threaten merchant shipping. The UK Ministry of Defence affirmed the commitment to protecting sea-lanes critical to the global economy, through which approximately 15% of the world’s shipping passes.
The turmoil in the Red Sea reflects in spiking freight rates, with Asia-N. Europe rates soaring 173% and Asia-Mediterranean prices doubling. Carriers introduce surcharges ranging from $500 to $2,700 per container, pushing all-in prices higher. N. America routes witness a 52% increase to $3,900/FEU, while rates to the West Coast climb over $1,000 per container.
Stakeholders in maritime, breakbulk, project cargo, and logistics have been closely monitor the situation, navigate these uncertain times.
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