Consequences of the Gaza war

Over 50 Houthi attacks on merchant ships to date

Here, Houthi rebels storm the freighter "Galaxy Leader"

(Bild: APA/AFP/ANSARULLAH MEDIA CENTRE)

The consequences of the Gaza war are endangering international shipping: according to data from industry insurer Allianz Commercial, the Iranian-backed Houthi rebels in Yemen attacked over 50 merchant ships in the Red Sea between November 19 and the end of April. As a result, traffic through the Suez Canal has since fallen sharply. At the beginning of the year, a good 40 percent fewer ships passed through the canal than at peak times.

The Houthi rebels in Yemen are allied with Iran and, according to the US government, are also financed by Tehran. In the wake of the Gaza war, the militia is attacking ships in the Red Sea in order to disrupt trade with Israel, whose army has been fighting the militant Palestinian organization Hamas in the Gaza Strip since October. For example, the freighter "Rubymar" sank at the beginning of March after an attack off the Yemeni coast.

On Friday, the Houthi militia in Yemen announced an expansion of its attacks on merchant ships in the Mediterranean.

(Bild: Associated Press)

As shipping in the Panama Canal is also suffering from low water levels due to drought, a second important sea route from the Atlantic to the Pacific has also been disrupted, according to Allianz.

Attacks damage global markets
New York-based shipping expert Rahul Khanna writes in his analysis that attacks on ships are a means for terrorists and armed militias to gain notoriety and damage global markets. In addition to conventional weapons, the company believes that cyber attacks could also severely disrupt shipping traffic. Allianz Commercial is the division of the Munich-based DAX-listed company that specializes in corporate and industrial customers, and shipping insurance is part of this business.