Most container ships avoided the Red Sea last week and took the long route around the Cape of Good Hope, instead as Houthi and Iranian militias threatened to block container ships heading to the Red Sea through the Gulf of Eden. The Houthis in Yemen are threatening to stop Israeli and US ships in their war against Israel.
Yesterday, the US retaliated by destroying more than twelve pirate boats in Yemen, but it is not clear whether the Red Sea is now safe for passage. Container shipping rates are soaring as a result and will undoubtedly affect goods prices in the near term in many places across the world.
Oil tankers are passing through the Red Sea normally although many oil tankers and cargo ships that are passing through have armed guards on board.
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