Houthi leader warns against shipping ties with Israel as he hails Palestinians
Houthi leader Abdel-Malik al-Houthi says the Yemeni armed group used 45 hypersonic and ballistic missiles, sea and aerial drones, and speed boats in its attacks against Israel and Israel-linked ships in the Red Sea this week.
“This week, attempts were made to resume operations at the Umm al-Rashrash port,” he said during an hour-long televised message, in reference to Israel’s Eilat port.
He said some maritime transport companies began violating the ban on doing business with the port imposed by the Houthis in opposition to the war on Gaza, “mistakenly believing it could be overlooked”.
That is why, he said, the Houthis attacked and sank two ships in the Red Sea, something they are willing to do more of “as long as the aggression and siege on Gaza continue”.
“We emphasise that the ban decision on the Israeli enemy’s navigation through the Red Sea, Gulf of Aden, and the Arabian Sea is a continuous decision in all stages,” al-Houthi said.
He also praised the Palestinian fighters in Gaza, and said they are displaying “great steadfastness” in confronting four divisions of the Israeli military.
Insurance costs for Red Sea shipping more than double amid attacks
The insurance cost of shipping goods through the Red Sea has more than doubled in recent days after suspected attacks by Yemen’s Houthis, industry sources say.
War risk premiums have risen to about 0.7 percent of the value of a ship from about 0.3 percent last week before the latest attacks took place, sources familiar with the matter told the Reuters news agency.
Rates for a typical seven-day voyage, which are set by individual underwriters, have been quoted this week at up to 1 percentage point higher, matching the peak level in 2024 when there were daily attacks. This adds hundreds of thousands of dollars in costs for every shipment.
“The recent attacks in the Red Sea have highlighted the need for caution when considering a transit,” said Neil Roberts, head of marine and aviation with the Lloyd’s Market Association.
The Houthis said they are targeting Israel-linked ships as part of a campaign to pressure the Israeli military to end its assault on Gaza, which rights groups have described as a genocide.
