Shipping Industry Calls for Action in the Red Sea as Houthis Sink Second Vessel, According to Reuters

By Jonathan Saul

LONDON – Urgent measures are necessary in the Red Sea to prevent attacks on merchant vessels by Yemen’s Houthi militants, according to leading industry groups, following the sinking of a second ship.

The Iran-aligned Houthis began drone and missile strikes on this crucial trade route in November, claiming they were acting in solidarity with Palestinians in Gaza. Over 70 attacks have occurred, including the seizure of one vessel and its crew, resulting in the deaths of at least three seafarers.

In a joint statement, the world’s major shipping associations condemned the violence, stating, "It is deplorable that innocent seafarers are being attacked while simply performing their vital jobs, which keep the world warm, fed, and clothed." They urged for an immediate cessation of the attacks and called upon influential states in the region to protect these seafarers and facilitate a swift de-escalation of the situation in the Red Sea.

The Greek-owned coal carrier Tutor, which was targeted by Houthi militants last week, has reportedly sunk, as confirmed by salvagers. Sources indicate that the vessel was struck by missiles and an explosive-laden remote-controlled boat.

Despite the deployment of international naval forces to provide mainly defensive support to ships navigating the Red Sea, attacks have markedly escalated. Concerns are rising within the insurance industry over the use of attack drone boats by the Houthis, which are considered more challenging to defend against due to their potential to strike at the waterline.

As pointed out by Munro Anderson, head of operations at marine war risk and insurance expert Vessel Protect, June has witnessed 10 Houthi strikes compared to five in May, marking a troubling increase. "The first successful use of an unmanned surface vessel represents a new challenge for commercial shipping within an already complex environment," he added.

Insurance sources indicate that additional war risk premiums for vessels operating in the Red Sea have remained around 0.7% of a ship’s value, down from approximately 1% earlier this year. However, with the recent sinking of a second ship, rates are expected to rise, potentially adding hundreds of thousands of dollars to every voyage.

Stephen Cotton, General Secretary of the International Transport Workers’ Federation, emphasized the need for ships to navigate around southern Africa as a safer alternative for seafarers. He advocated for proper naval escorts and protection for ships, which would significantly mitigate the risk of attacks.