In the past two months, the waters around Yemen have witnessed an escalation in Houthi militant attacks on merchant shipping near the Bab el Mandeb strait, connecting the Red Sea to the Gulf of Aden.
In the Middle East, a complex power struggle is underway among three key states: Iran, Turkey, and Saudi Arabia, all with varying degrees of hostility towards Israel.
The U.S.- and U.K.-led airstrikes on the Houthi group in Yemen on January 11, 2024, targeting approximately 60 locations across 16 sites, mark a significant development in the Middle East conflict.
As reported by Reuters, the cost of shipping goods through the Red Sea is increasing due to the escalating attacks by Yemen's Houthis on ships they believe are connected to Israel.
In recent events, Yemen's Houthi rebels hijacked a cargo ship indirectly linked to Israel, signaling their alliance with Hezbollah and Hamas in opposing Israel's actions in Gaza. The hijacking of the..
Attacks on military bases manned by U.S. Armed Forces and defense contractors in the Middle East, carried out by Iran-backed proxies, have reached a total of 66 since October 17.
The escalating conflict in Gaza has led to a tenfold increase in war risk premiums for ships bound for Israel, prompting industry stakeholders to seek government assistance in ensuring the continued..