INSUBCONTINENT EXCLUSIVE:
Disruptions to Red Sea shipping caused by Houthi attacks will push up prices of consumer goods, an executive from port and freight operator
DP World said on Tuesday as a missile struck another vessel in the region.The Iran-allied Houthi militia has threatened to expand its
ships in response to American and British strikes on its sites in Yemen.Attacks by the Houthis on ships in the region since November have
The Houthis say they are acting in solidarity with Palestinians.DP World CFO Yuvraj Narayan said he expected disruptions to hit European
heads of international banking groups said privately in Davos they were worried the crisis might cause inflationary pressures which could
ultimately delay or reverse interest rate cuts and jeopardise hopes for a U.S
economic soft landing.The impact on business is growing.War risk insurance premiums for shipments through the Red Sea are rising, insurance
sources said on Tuesday.In Spain, four factories owned by French tyre maker Michelin are planning to halt output again this weekend due to
delays in the delivery of raw materials.SHIP HITA Malta-flagged, Greek-owned bulk carrier was targeted and hit by a missile while northbound
in the Red Sea 76 nautical miles northwest of the Yemeni port of Saleef, a security firm and two Greek shipping ministry sources said on
Tuesday.The vessel, the Zografia, was sailing from Vietnam to Israel with 24 crew on board and was empty of cargo when attacked, one of the
It was still sailing but would probably reroute for safety checks.Underlining concerns, Japanese shipping operator Nippon Yusen (9101.T),
opens new tab, also known as NYK Line, instructed its vessels navigating near the Red Sea to wait in safe waters and is considering route
changes, a company spokesperson said.Shipping giant Maersk (MAERSKb.CO), opens new tab, however, sent two container ships through the Red
Sea carrying goods for the U.S
military and government.GAZA CEASEFIRE CALLContainer vessels have been pausing or diverting from the Red Sea that leads to the Suez Canal,
the fastest freight route from Asia to Europe
suspended all shipments through the Red Sea indefinitely after the U.S
and UK strikes triggered fears of further escalation, the Wall Street Journal reported on Tuesday
Shell declined to comment.Russian tanker group Sovcomflot (FLOT.MM), opens new tab is also considering alternative routes in case the crisis
escalates, TASS news agency reported
Sovcomflot did not immediately respond to a Reuters request for comment.European diplomats said member states of the European Union had
given initial backing to creation of a naval mission by Feb
19 to help protect ships from Houthi attacks in the Red Sea.The existing U.S.-led coalition meant to safeguard commercial traffic in the Red
between Houthi attacks on commercial ships to the war in Gaza
