The cost of shipping goods through the Red Sea is expected to remain firm after the United States carried out further airstrikes on Yemen on Monday, adding to fears of new attacks
The cost of shipping goods through the Red Sea is expected to remain firm after the United States carried out further airstrikes on Yemen on Monday, adding to fears of new attacks on ships by the Iran-aligned Houthis targeted by Washington, industry sources said.
Responding to the Houthi movement's threats to international shipping, the U.S. launched airstrikes on Saturday. On Monday, the Red Sea port city of Hodeidah and Al Jawf governorate north of the capital Sanaa were targeted, the Houthis' Al Masirah TV said.
In January, the Houthis said they would halt attacks on U.S. and UK linked shipping in tandem with a ceasefire between Israel and Palestinian Islamist group Hamas.
War risk premiums briefly eased to around 0.5% of the value of a ship after the January announcement from over 0.7% in December, before moving higher in February to 0.7% for some voyage rates. For some U.S. and UK linked ships, rates were quoted up to 2% in recent weeks for those still willing to sail through the waterway, industry sources said.
While various discounts would be applied, this still translates into hundreds of thousands of dollars of additional costs for a seven-day voyage.
Rates were likely to
Content Original Link:
" target="_blank">
