The attacks on shipping in the Red Sea have sharply driven up rates as vessels divert by the Cape of Good Hope attracting the interest of stock investors in listed container lines, although the situation remains extremely fluid.
![Houthi Rebels hijacking car carrier Galaxy Leader]( "Houthi Rebels hijacking car carrier Galaxy Leader")
Houthi rebel leader Muhammad Ali Al-Houthi has ordered his forces not to fire on vessels transiting the Red Sea which declare they have no connection to Israel.
![container ship passing through Suez canal]( "container ship passing through Suez canal")
As more and more ships divert from the Red Sea over the threat from Houthi rebels opinion writer Michael Grey warns the situation should not be allowed to drift on.
![Ships at anchor]( "Ships at anchor")
The ClarkSea index dropped 37% last year, however it was compared to an exceptional year in 2022 that was fuelled by the container markets.
![NYK Group Takaya Soga]( "NYK Group Takaya Soga")
NYK’s President has pointed to multiple geopolitical challenges affecting its ability to make immediate judgments on the group’s position in many countries.
Spot container freight rates from Asia – Europe have more than doubled over the last two weeks as lines divert via the Cape of Good Hope to avoid attacks in the Red Sea.
Container shipping is under pressure from large amounts of new capacity coming into the fleet, however, events in the Red Sea are boosting spot rates at least in the short-term.
The hostilities in the Red Sea will likely be igniting other battles, albeit of a commercial rather than military nature, as container lines seek hefty rate increases and file urgent requests with US regulators.
Mental Health Support Solutions (MHSS) is offering pro bono critical mental health support to vessels in the Red Sea and Gulf of Aden high risk areas.
Twelve nations have warned the Houthis against further attacks in the Red Sea on the day the UN Security Council met to discuss the situation.
