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Houthis: Will attack all ships! Freight rates soar to $10,000

Ting https://mp.weixin.qq.com/s/JeqphsqBUWnLfW0Mq4hBDQ 2024-05-20 11:05:24

According to CCTV, the leader of the Yemeni Houthi armed forces, Abdul Malik Houthi, said in a televised speech on the 16th that the organization will continue to expand the scope of its attacks and that all ships heading to Israeli ports will be targeted by the Houthi armed forces. Attack targets, these ships will be attacked wherever the Houthis have the capability to reach. He said the Houthis' move was an act of solidarity with the Palestinians.

The Houthi armed forces issued a statement on May 15 saying that they successfully attacked a US warship and a ship named "Destiny" in the Red Sea. Houthi armed spokesman Yahya Saraya said in a video speech that they used multiple missiles to target the US destroyer named "Mason"; and the reason why the "Destiny" became the target of the attack was It was because the ship had gone to the Israeli port of Eilat on April 20. 

According to media reports, the Spanish government refused permission to dock at its port on May 16 for a ship bound for Israel from India, which was allegedly loaded with explosives. The Spanish Ministry of Foreign Affairs subsequently made it clear that no ships carrying military supplies bound for Israel would be allowed to dock in Spanish territory. Previously, Spain's "Sumar" party had asked the government to investigate another ship that may be involved in Israeli military supplies.

Since the outbreak of a new round of Palestinian-Israeli conflict in October this year, Yemen’s Houthi armed forces have used drones and missiles to repeatedly attack targets in the Red Sea and Arabian Sea. Since January 12 this year, the United States and the United Kingdom have launched multiple air strikes against Houthi armed targets, causing casualties. Some countries condemned the actions of the United States and Britain, believing that this was a violation of Yemen's sovereignty and would aggravate regional tensions.

In the coming period, the upward trend in sea freight prices for foreign trade exports is likely to continue. According to market feedback interviewed by CCTV, major routes in the container shipping market will have no space before the end of May and are facing a shortage of containers; some routes will have no space to book by mid-June. Freight rates on some routes soared to US$10,000. 

At present, on the one hand, tensions in the Red Sea may further escalate, causing shipping costs to continue to rise; on the other hand, shipping companies may continue to adopt price increase strategies to respond to market changes. Therefore, exporters need to pay close attention to market dynamics and formulate reasonable trade strategies to cope with the challenges brought about by rising freight rates.

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