![Red Sea Chaos: Houthis Sink Ships, Send Shipping Costs Skyrocketing 1](https://i0.wp.com/greatgameindia.com/wp-content/uploads/2024/06/image-46.jpg?fit=300%2C169&ssl=1)
Red Sea Chaos: Houthis Sink Ships, Send Shipping Costs Skyrocketing
Red Sea chaos escalated recently as Houthi rebels sank the dry-bulk freighter Tutor using a kamikaze drone boat, sending commercial shipping costs soaring. Insurance rates for vessels now reach 6% of their value, impacting global containerized freight and port operations. Iran-supported Gulf of Aden, the vital Bab el-Mandeb chokepoint, and