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Houthi attack kills three sailors in group’s first fatal strike on shipping (www.aljazeera.com)
submitted 2 years ago by to c/news@hexbear.net
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Sad to see random sailors get killed, but regardless still have to hand it to the Houthis for an extremely successful ongoing campaign. Shipping volumes passing through are down dramatically, and alternate routes are adding a lot of delay and expense. It's costing Egypt a lot of money in lost transit tolls as well. And shipping was in a less-than-ideal state to begin with, due to the Panama canal drought and issues with shipbuilding.

Insurance rates were already keeping most higher value cargo out, it's currently mostly bulk goods, crude oil, and some refined petroleum products still transiting; that's why we never hear about container ships being hit, they were generally the first to leave.

This attack will further increase insurance rates and further increase pressure on the west to "do something" but other than a ceasefire they don't have a lot of good options.

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Houthi attack kills two sailors in group’s first fatal strike on shipping (www.aljazeera.com)
submitted 2 years ago* by to c/world@lemmy.world
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The Houthis claimed responsibility for the attack on Wednesday, which set the Greek-owned, Barbados-flagged ship True Confidence ablaze approximately 50 nautical miles (93km) off the coast of Yemen’s port of Aden.

“The targeting operation came after the ship’s crew rejected warning messages from the Yemeni naval forces,” the militia’s military spokesman Yahya Sarea said in a televised speech.

The True Confidence is owned by the Liberian-registered company True Confidence Shipping and operated by the Greece-based Third January Maritime, both firms said in their joint statement. They said the ship had no link to the US.

However, it had previously been owned by Oaktree Capital Management, a Los Angeles-based fund that finances vessels on instalments.

The Houthis “will not stop until the aggression is stopped and the siege on the Palestinian people in the Gaza Strip is lifted”, Saree said.