Houthi rebels have launched over 90 attacks on vessels in the Red Sea since October 7th, 2023, after Hamas started a war with Israel. The oil tanker Cordelia Moon was damaged by a drone strike. [add more examples]. The chaos has forced many shipping companies to reroute around Africa, driving up costs and transit times.

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Meanwhile, the U.S. has responded with targeted airstrikes, hitting over 60 Houthi positions in recent weeks to secure international shipping lanes. These actions are critical, as the Red Sea serves as a vital corridor for global trade, linking Europe, Asia, and Africa.

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The conflict, driven by Houthi ties to Iran and alignment with Hamas, highlights the geopolitical stakes. As shipping lanes remain contested, global trade faces heightened uncertainty, with freight rates staying high amid reduced capacity.

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The attacks are driving up shipping costs and the costs of goods. This can be seen in ZIM Integrated Shipping Services's recent earnings report.  ZIM just declared a massive $3.65 per share dividend, including $100 million in special payouts.

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Watch the video here

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