Yemen Financial News

Houthi-controlled Yemen got within a “couple of miles" of U.S. Navy and commercial vessels in the Red Sea before detonating on Thursday, just hours after the White House and a host of partner nations issued a final warning to the Iran-backed militia group to cease the attacks or face potential military action. Vice Admiral Brad Cooper, the head of U.S.

Next has warned supplies of its products could be delayed if disruption to shipping in the Red Sea continues. Attacks by Houthi rebels on vessels in one of the world's busiest shipping lanes have resulted in firms avoiding the area and taking longer routes.

By Andrew Hayley and Jeslyn Lerh

The top commander of U.S. naval forces in the Middle East says Iranian-backed Houthi rebels are showing no signs of ending their “reckless” attacks on commercial ships in the Red Sea

The U.S. military says its forces opened fire on and killed several Houthi rebels after they attacked a cargo ship in the Red Sea

The US Navy headquarters reported sinking three small boats affiliated with Houthi militants in the Red Sea, according to military officials. This occurred as a response after a US warship answered a distress call from a merchant vessel in the region. The incident involved a Maersk container ship being targeted by Houthi forces at approximately 6.30 am local time, facing an attack from four small Houthi boats. Reuters quoted accounts by American, Maersk, and Houthi officials stating that US helicopters repelled an attack by Iran-backed Houthi militants on a Maersk container vessel, sinking three boats and killing 10 militants.

US helicopters sank three Houthi boats in the Red Sea, the White House issued a statement saying that it is not seeking a 'wider conflict' in the Middle East, CNN reported. Notably, the US helicopters sinking the Houthi boats and killing its crew, marked the first instance when the US killed members of the Iranian-backed rebel group which has been targeting commercial and merchant vessels in the Red Sea since tensions broke out. The US has avoided directly striking the group inside Yemen as it seeks to avoid escalating the crisis further. But a National Security Council spokesman said on Sunday that the US would continue acting in 'self-defense'. «We don't seek a conflict wider in the region and we're not looking for a conflict with the Houthis.

A surprise surge in American oil and gas production and exports is helping to keep the world stocked, blunting the impact of widening conflict in the Middle East that has crimped key shipping lanes. When Iranian-backed Houthi militants began launching missiles and drones at ships crossing the Red Sea near Yemen in October, many feared disruption to the vital shipping lane would drive up energy prices. But oil and gas prices this past month have sunk about 5% and 23%, respectively.

India monitoring Red Sea developments; got info on US-led naval task force It appeared to be undamaged in that attack and "was able to continue its transit north", said Maersk, one of the world's largest shipping companies. Why the Houthi attacks in the Red Sea are worrisome It was then attacked by four ships operated by Yemen's Iran-backed Huthi rebels, which "engaged fire in an expected attempt to board the vessel", the Danish shipping company said.

By Jacob Gronholt-Pedersen and Ahmed Elimam

US Navy helicopters sank three of four small boats used by Iranian-backed Houthi militants to attack a Maersk container vessel in the southern Red Sea, the U.S. military said on Sunday. Helicopters from the USS Eisenhower and USS Gravely, responding to distress calls from the Maersk Hangzhou, returned fire on the Houthi boats in self-defence and sank three of the vessels with no survivors, U.S. Central Command (CENTCOM) said in a statement.

US military is trying to reassure shipping companies that a multinational force is making it safe to sail through the Red Sea and Suez Canal even though attacks from Yemen-based Houthi rebels show no sign of stopping. The Pentagon is «engaged with industry on a near-daily basis to gauge needs and provide reassurance that the international community is there to help with safe passage,» Air Force Lieutenant Colonel Bryon McGarry, a defence department spokesperson for the Middle East and Africa, said Thursday in an emailed response to questions.

Denmark, home to some of the world’s largest firms, agreed to double wages for crew sailing through the Red Sea to compensate for the danger posed by the recent attacks. The hazard pay kicks in for the time spent in two defined high-risk areas in the region, according to a deal presented on Friday by employer group Danish Shipping and the nation’s three largest labor unions for seafarers. Many transport companies are avoiding the Red Sea where Yemen-based Houthis have attacked ships in support for Hamas in the conflict with Israel. But even ships without direct links to Israel have been targeted, and as the escalation of the war threatens global trade, a US-led task force is trying to bolster security on the key waterway. Denmark’s A.P.

BERLIN (Reuters) -Hapag-Lloyd has decided to continue diverting its vessels around the Suez Canal for security reasons, a spokesperson for the German container shipper told Reuters on Friday, adding a next assessment would be made on Jan. 2.

By Sudarshan Varadhan

By Jonathan Landay

₹6,094 per bbl, having swung between ₹6,068 and ₹6,200 per bbl during the session, against a previous close of ₹6,211 per barrel. -Denmark's Maersk will route almost all container vessels sailing between Asia and Europe through the Suez Canal from now on while diverting only a handful around Africa, a Reuters breakdown of the group's schedule showed on Thursday.

Piyush Goyal on Thursday said rice exports have been impacted by the problems in the Red Sea, though a clear picture will emerge after the December exports data is known. The situation around the Bab-el-Mandeb Strait, a crucial shipping route connecting the Red Sea and the Mediterranean Sea to the Indian Ocean, has escalated due to recent attacks by Yemen-based Houthi militants.

By Yuka Obayashi

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basmati rice have fallen due to militant attacks against merchant ships in the Red Sea, leading to 5-10% fall in basmati prices in the domestic market, exporters said. Leading shipping lines' decision to avoid the Suez Canal route amid Houthi attacks has also impacted sunflower oil imports from Russia and Ukraine. Sunflower oil prices in the local market are likely to go up by 3-4% as international prices have increased by $30 per tonne in the last one week to $940 per tonne, trade insiders said.