Houthi attacks on commercial ships have upended global trade in vital Red Sea corridor
by Courtney Bonnell

The Associated Press    Translate This Article
18 December 2023

On 18 December 2023 The Associated Press reported: The attacks on commercial vessels in the Red Sea by Yemen's Houthi rebels have scared off some of the world's top shipping companies and oil giants, effectively rerouting global trade away from a crucial artery for consumer goods and energy supplies that is expected to trigger delays and rising prices. ...Both oil and European natural gas prices rose partly over market nerves about attacks by the Iranian-backed Houthis, who confirmed two new attacks Monday [18 Dec]. It is the latest targeting of container ships and oil tankers passing through a narrow waterway that separates Yemen from East Africa and leads north to the Red Sea and Suez Canal, through which an estimated 10 percent of the world's trade passes. Global Good News service views this news as the failure of modern world peace systems. Such 'flops' highlight the need for more intelligent, evolutionary, Natural Law based, life-supporting systems.

...'This is a problem for Europe. It's a problem for Asia,' said John Stawpert, senior manager of environment and trade for the International Chamber of Shipping, which represents 80 percent of the world's commercial fleet.

He noted that 40 percent of Asia-Europe trade normally goes through the waterway: 'It has the potential to be a huge economic impact.'

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Global Good News comment:

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