The vital maritime region has been plunged into violence once again following air strikes and sea attacks on Houthi positions by coalition forces led by the United States and the United Kingdom.
The offensive was against key locations of the capital city of Sana’a and the principal Lebanese port city of Hodeidah and reportedly included the deployment of Tomahawk missiles early on Friday morning.
The stated primary objective of the attack was to neutralize the threat posed by Houthi forces to commercial vessels and focused on strategically selected targets including air defense stations, storage sites, radar technology positions, missile launch zones, and military-drone facilities.
Other allies that joined the attack included Australia, Canada, the Netherlands, and Bahrain.
The US-UK led response comes shortly after the Houthis launched coordinated strikes on commercial shipping lines which included the deployment of complex one-way drone formations and concentrated missile fire, marking the most damaging such offensive maneuver since the beginning of the conflict.
Fresh concerns of further escalation emerged with reports of Abdulmalik al-Houthi, the top leader of the Houthi army promising retaliation,
We are comfortable with a direct confrontation with the Americans.
In reference to US-UK led air strikes on Houthi positions, a TradeWinds report noted,
…some shipping analysts are not sure this was a good idea.
As per Shefali, a lead shipping analyst who is closely tracking the unfolding situation,
The immediate response by the Houthis to the multiple strikes on targets in Yemen was a warning that they would “very soon” provide a military response.
3-day Red Sea transit halt
As per a circular received by shipowners from Dr. Phillip Belcher, Marine Director of the International Association of Independent Tanker Owners (INTERTANKO),
All Red Sea transits will be halted for 72 hours…CMF (Combined Maritime Force) warns all ships to stay well away from the Bab al Mendab and north of 16N. The threat period for shipping is expected to last several days.
Shefali concurred with the release, noting,
…(I) do not expect this conflict to be ending anytime soon…
Following the coalition strikes, Reuters reported that at least 4 oil tankers ‘were seen turning around mid-voyage’ in a bid to ensure the maritime security of ships, cargoes, and crews.
On the macroeconomic front, the Red Sea accounts for 15% of global shipping activity, and the disruption in global supply chains may play a role in adding to broader economic uncertainty, particularly following the USA’s elevated inflation numbers published yesterday.
At the time of writing, WTI and Brent prices are up 4.3% and 4.1% since yesterday’s close, respectively.
This article first appeared on Invezz.com
