Recent Exchange of Fire in the Red Sea Between Shipboard Guards and Attackers

Attacks in the Red Sea have escalated, posing risks to global trade as about 12% of it passes through this crucial waterway. In the latest incident, armed guards on a fuel tanker traded fire with a small boat. These attacks have increased in recent days, with around a dozen commercial vessels targeted or attacked around Yemen since October. Iran-backed Houthi fighters, supporting Hamas in the Israel-Hamas conflict, have claimed responsibility for many of these attacks.

The encounters have been largely non-invasive, with no boarding or damage, but the tension has intensified with an increase in armed guards on ships. Israeli President Isaac Herzog has called for international action against the Houthi rebel group, warning of the threats they pose to international trade and assets. The attacks have raised war risk premiums for ships visiting the Red Sea, and the scope of targets is expected to expand to include ships that recently visited Israel.

The attacks in the Red Sea are posing a significant threat to global trade, with war risk premiums rising for ships in the area. These incidents, claimed by the Iran-backed Houthi fighters, are increasing tension and posing a risk to international trade and assets. International action has been called for to address these threats and protect ships navigating this critical waterway, which handles trade flows worth around a trillion US dollars every year.

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