Marine Insurance Companies: Western Governments Unable to Stop Houthi Attacks or Resolve Red Sea Crisis
NYN | Reports and analyses
The Norwegian website TradeWinds reported that global marine insurance companies affirm that the United States and Western governments are unable to stop attacks by Sana’a government forces supporting Gaza, which is further complicating the Red Sea crisis.
According to the report, the decline of globalization and the rise of states challenging U.S. dominance are creating a dangerous new world for shipping. The report highlighted that, “During a meeting of the International Union of Marine Insurance on Monday, insurance companies stated that Western governments have few tools to end the crisis in the Red Sea, where the attacks have been highly successful in promoting the Houthis’ cause.”
The report quoted analyst Elisabeth Braw, who said that “the diminishing power of the United States and the strong propaganda the Houthis gain by burning ships in the Red Sea have left government and major shipping interests with limited options after 10 months of continuous attacks.”
Braw, a researcher at the Atlantic Council, added that “from the West’s perspective, there is nothing anyone can do or say that would convince the Houthis to change their tactics.”
In this context, Western governments face significant challenges in confronting the attacks by Sana’a forces, as their ability to stop these attacks appears limited. Many in the West are questioning whether this means that the Houthis will continue their attacks, and when the Red Sea crisis will come to an end.
Earlier, shipowners dealing with Israel told TradeWinds, “Sailing through the Red Sea has become madness.”
In a related report, the British website Supply Chain 360 mentioned that the situation in the Red Sea is altering retail trade mechanisms in the UK, where traders are forced to stock goods in advance to avoid delays caused by rerouting targeted ships.
Reports confirmed that this crisis is causing a significant shift in storage strategies, especially ahead of the Christmas season.
Meanwhile, Reuters quoted the energy research company Vortexa as saying that the attacks by Sana’a forces in the Red Sea have negatively affected U.S. imports of fuel oil.
