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The battle for the freedom of navigation in the Red Sea has expanded with the entrance of a European Commission naval defense effort in the past week, and more U.S. and allied strikes against Houthi land targets over the weekend, but to date, combined military efforts have not deterred rebel attacks.
The U.S. and Britain struck 18 Houthi targets in Yemen on Saturday, answering a recent surge in attacks by the Iran-backed militia group on ships in the Red Sea and Gulf of Aden, including a missile strike this past week that set fire to a cargo vessel.
The use of anti-ship ballistic missiles (ASBMs) in the Red Sea has spurred interest in Asia about the systems used to shoot them down, experts and industry officials say – although China, with its huge ASBM arsenal, presents a tougher challenge.
A missile attack by Houthi rebels on a Belize-flagged ship has dashed hopes for an end to the shipping logjam between Asia and Europe just as freight rates were stabilising, with retail consumers expected to bear higher costs.
TOKYO -- While most containerships are making detours around the conflict-affected Red Sea, experts say container freight rates, which had initially soared, are showing signs of easing.
Volumes were 12 per cent higher in January compared with a year ago, according to port authority data. That’s the second month of sharp gains as the confrontation in the region sends vessels scrambling to top up fuel at the Asian hub.
A.P. Moller-Maersk, the second-largest global ocean carrier, is advising customers to prepare for a Red Sea crisis that could stretch well into the second half of this year.