Houthis to resume attacks on Israeli shipping in Red Sea

Quantum Commodity Intelligence - Yemen's Houthi group said Wednesday it will resume attacks on "any Israeli vessel" in the region unless Israel ends its blockade into in the Gaza strip.

The militant group issued the warning to Israeli ships passing through the Red and Arabian seas, the Bab al-Mandab Strait and the Gulf of Aden, which follows an ultimatum issued late last week.

"Any Israeli vessel attempting to violate this ban will be subject to military targeting in the declared operational area," the statement said Wednesday, adding the move aims "to pressure the Israeli usurper entity to reopen the crossings to the Gaza Strip."

The threat to resume attacks was seen by analysts as marking an end to a relatively stable period for the Red Sea, in turn threatening a steady rebound in Suez Canal trade.

The Houthis have launched over 100 attacks on commercial shipping since November 2023, often targeting vessels will Israeli links or operated by Western interests.

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However, alleged Israeli links for vessels coming under attack have often been tenuous, prompting fears that a wider campaign against commercial shipping could resume.

In practise, few oil and LNG shippers had returned to the route since the Israel-Hamas truce deal in January, with the region expected to remain volatile for the foreseeable future.

Additionally, many operators have already made investments in the alternative route via southern Africa, so are in no hurry to go back to the Red Sea.

But it potentially marks a blow for European LNG buyers looking to for a shorter route on purchases of Qatari LNG, while renewed tensions are also likely to derail hopes that gasoil and jet fuel shipments via the Suez would pick up.

Houthis in the past have offered 'safe passage' to Russian and Chinese interests, although this has been no guarantee with vessels and operators often falling under complex and multiple ownership structures.