Iran-backed Houthi rebels are continuing to attack commercial ships in the southern Red Sea. The militant group has targeted two vessels sailing in the Red Sea following airstrikes by the United States and the United Kingdom on dozens of locations across Yemen, Iraq, and Syria over the weekend.
This escalation around the maritime chokepoint has led to a blockade of ships, marking a new round of cost-push inflation due to snarled supply chains.
Crisis In The Red Sea Threatens To Disrupt Global Supply Chains Even More Than The Pandemic Did
According to a report by ZeroHedge, media outlet Reuters quoted a Houthi spokesman who said anti-ship missiles were fired at the Morning Tide and Star Nasia, flying Barbados- and Marshall Islands flags, respectively, as British and American.
British maritime security firm Ambrey said Morning Tide suffered damage from a suicide drone while sailing southeast through the Red Sea. No injuries were reported.
The owner of the Morning Tide told Reuters the vessel was sailing “without problems” but declined to give further information.
The United Kingdom Maritime Trade Operations (UKMTO) reported after midnight GMT that a projectile was fired at the port side of a ship located 57 nautical miles west of Hodeidah. The ship’s bridge suffered minor damage. It noted all crew were safe. –ZeroHedge
UKMTO/WARNING/INCIDENT 027 06/FEB/2024
Category: ATTACKhttps://t.co/kEfQRRMntN#MaritimeSecurity #MarSec pic.twitter.com/gg6YyCmd4N
— United Kingdom Maritime Trade Operations (UKMTO) (@UK_MTO) February 6, 2024
UKMTO WARNING – INCIDENT 028
ATTACKhttps://t.co/qlApy9q9pq#MaritimeSecurity #MarSec pic.twitter.com/xWX7bgV7iW
— United Kingdom Maritime Trade Operations (UKMTO) (@UK_MTO) February 6, 2024
These continued attacks threaten to hit the global supply chains hard. Last week, Deutsche Bank Research even warned clients about the problems escalating in the Red Sea in their article: “Red alert 101: Tension in the global supply chain.”
About one month ago, it first became apparent that the Red Sea blockage would trigger “a new round of surging cost-push inflation.”
Here comes the next supply-driven inflation shock pic.twitter.com/2H7ppdmRVQ
— zerohedge (@zerohedge) January 5, 2024
If the tit-for-tat retaliatory attacks continue, the world will not only face a shipping and supply chain disruption, but it will witness a third world war that’s likely to be devastating to most human beings on this globe.
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