Shipping companies operating in the Red Sea are facing uncertainty as the United States assembles an international navy coalition to counter armed attacks. Initiated in response to increased Houthi militant attacks supporting Hamas, details about the coalition's composition, rules of engagement, and protection schemes remain unclear. The Houthi attacks have disrupted a crucial trade route, prompting some global shipping companies to divert around Africa, raising concerns about delays, rising costs, and potential inflation. While the coalition involves nations like Bahrain, Britain, and others, doubts persist about its effectiveness, leaving the shipping industry cautious and seeking concrete actions to ensure maritime security.

Source: Reuters