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- Title
RED SEA: Continuing Houthi Attacks.
- Abstract
Container shipping through the Red Sea decreased by almost 30% in 2023 due to ongoing attacks by Yemen's Houthi rebels, according to the International Monetary Fund (IMF). The rebels have launched over 30 attacks on commercial shipping and naval vessels since November 19th, citing solidarity with the Palestinians and protest against the Israel-Hamas war. The decrease in shipping has prompted some companies to detour around southern Africa to avoid the Red Sea, a vital trade route that normally carries about 12% of global trade. The United States and European Union are taking measures to protect Red Sea shipping and are considering naval missions to safeguard international trade.
- Subjects
INTERNATIONAL Monetary Fund; SHIPMENT of goods; FREIGHT &; freightage rates; FREIGHT forwarders; PHYSICAL distribution of goods; WARSHIPS
- Publication
Africa Research Bulletin: Economic, Financial & Technical Series, 2024, Vol 61, Issue 1, p24585A
- ISSN
2053-227X
- Publication type
Article
- DOI
10.1111/j.1467-6346.2024.11472.x