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U.S. and allies target Houthi rebels in Yemen, responding to threats against cargo ships in the Red Sea.
The United States and its allies recently launched air and missile strikes against Houthi rebel targets in Yemen. This response comes after the Iran-backed militia staged multiple attacks on cargo ships in the Red Sea, a vital commercial waterway.
U.S. and coalition forces "executed deliberate strikes" on
The airstrikes targeted Houthi radar systems and missile storage and launch sites across Yemen, aiming to diminish the threat to shipping lanes crucial for global trade. The Iran-aligned Houthis have retaliated against international shipping, protesting Israel's actions in Gaza.
Also, Iran seized the oil tanker St. Nikolas in Gulf of Oman amid U.S. sanctions dispute, escalating tensions with the country.
Yemen is not quite one sovereign actor as the Houthi rebels there have attacked cargo ships of countries with link to Israel. It is a violation of int’l maritime laws and attack on the sovereignty of those countries. + It’s a key east-west shipping lane and affects global prices. pic.twitter.com/YOobei3srN
— Han 🧠 (@HoleyHan) January 12, 2024
Source: VOA
Shipping groups urge governments to intervene as Houthi attacks claim more lives and send freight rates soaring. Second vessel sinks in Red Sea.
East Coast port strike looms while LA imports fall slightly. But bigger storm brewing as ocean freight rates could hit $20,000 per container.
Container rates hit new highs, causing shipper worry. With tender rejections in LA hitting 2-year highs, FreightWaves' Craig Fuller is "bullish" on 2H recovery.
Plus, the Port of Los Angeles posted its 11th straight month of year-over-year gains in exports, processing 770,337 total TEUs, up 12% from last year.
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