"Approaching the Tipping Point: How Close Are We to the Next Major Attack?"
Shipowners are closely monitoring the risk of indiscriminate firing on commercial shipping in the Red Sea by Yemen’s Houthi faction, with factors such as charterers, crews, and ship type influencing decisions. Some owners believe that the tipping point for avoiding the region may be only a few more attacks away, potentially leading to more ships treating the area as a no-go zone. Charterers and crews are also influencing decisions, with sentiment among charterers changing after recent attacks. The situation poses significant risks for the maritime industry, potentially leading to re-routing vessels and increased insurance costs, while crews may demand additional danger money in certain situations.
