Red Sea Chaos: Houthis Sink Ships, Send Shipping Costs Skyrocketing
June 22, 2024
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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
