Shipping Industry Urges Red Sea Action as Houthis Sink Second Vessel
Urgent action is necessary in the Red Sea to halt attacks on merchant ships by Yemen's Houthis, say leading industry groups after the sinking of a second vessel. The Iran-aligned Houthi militants launched drone and missile strikes on this vital trade route in November, claiming solidarity with Palestinians in Gaza.
With over 70 attacks, the Houthis have seized a vessel and its crew and have killed at least three seafarers. "It is deplorable that innocent seafarers are being attacked while simply performing their jobs, vital jobs which keep the world warm, fed, and clothed," said top shipping associations in a joint statement. "These attacks must stop now. We urge influential states in the region to protect our seafarers and de-escalate the situation in the Red Sea swiftly."
Greek-Owned Tutor Coal Carrier Sinks
The Greek-owned Tutor coal carrier, attacked by Yemen's Houthi militants in the Red Sea last week, has sunk, salvagers confirmed on Wednesday. The ship was hit with missiles and an explosive-laden remote-controlled boat, sources report. International naval forces have been deployed mainly to defend ships still navigating the Red Sea, but attacks have significantly increased.
Rising Concerns with Attack Drone Boats
Insurance industry sources expressed rising concerns over the use of attack drone boats by the Houthis. "These are harder to defend against and more lethal as they strike the waterline," stated an industry source. "Missiles have mainly caused deck and superstructure damage to ships."
Increased Attacks in Recent Months
In June, there have been 10 Houthi strikes, compared to five in May, said Munro Anderson, head of operations at Vessel Protect, part of Pen Underwriting. "The first successful use of an unmanned surface vessel represents a new challenge for commercial shipping in an already complex environment," he added.
Economic Impact and Rising Costs
Insurance industry sources indicated that additional war risk premiums have hovered close to 0.7% of a ship's value recently, up from around 1% earlier this year. With the sinking of a second ship and potential ensuing losses, rates are likely to increase, adding hundreds of thousands of dollars in extra costs to every voyage.
Alternative Shipping Routes
Ships must divert around southern Africa to protect seafarers, said Stephen Cotton, General Secretary of the International Transport Workers' Federation, the leading seafarer's union. "Proper escorts and naval force deployments to protect ships would reduce risks significantly," he noted.
