Shipping界 News: As Israel launched airstrikes on multiple ports in Yemen, commercial vessels in the Red Sea have also been repeatedly attacked by the Houthi rebels, leading to a sharp deterioration in the security situation in the region.
After a nearly seven-month pause, the Houthis carried out two consecutive attacks on commercial ships within two days. On the evening of the 7th local time, the Houthis targeted the 36,830 DWT bulk carrier *Eternity C* (IMO: 9588249), operated by a Greek company, resulting in the deaths of three crew members and severe injuries to two others.
*Image source: Screenshot from Houthi video*
On July 6 local time, the Houthis also attacked the 63,027 DWT bulk carrier *Magic Seas* (IMO: 9736169), forcing the crew to abandon the ship.
Footage released by the Houthis shows the vessel being targeted by drone boats and missiles, with the video concluding with scenes of the *Magic Seas* sinking.
*Image source: Screenshot from Houthi video*
**CMA CGM Continues Cautious Passage Through the Red Sea**
Despite the new attacks, unlike most major liner companies, CMA CGM vessels will still cautiously navigate the Red Sea, though there are no immediate plans for a large-scale resumption of Red Sea transits.
CMA CGM stated, “Until further notice, CMA CGM will continue to seek escort assistance from the EU naval forces to ensure the highest level of safety for its crew, vessels, and customers’ cargo.”
**Red Sea Resumption Delayed**
While CMA CGM and Mediterranean Shipping Company (MSC) continue tentative transits through the Red Sea, other major liner companies will stay away from the region for the foreseeable future.
Lars Jensen, an analyst at consultancy Vespucci Maritime, believes that liner companies may not return to the Suez Canal until 2026.
He noted, “With two attacks in two days, it’s hard to believe major liner companies will return to the Red Sea this year.”
He pointed out that many have questioned why liner companies haven’t resumed Suez Canal transits since December, given the absence of attacks. The answer lies in the Houthis’ continued capability to strike and the ever-changing situation.
“Therefore, I believe many shipping companies now internally assess that avoiding premature action is the correct risk assessment.”
Peter Sand, chief analyst at Xeneta, also stated that tensions between Iran and Israel would need to significantly ease before liner companies genuinely resume Red Sea transits.
He noted, “These attacks demonstrate that the Houthis still possess the capability to strike, while simultaneously launching rockets at Israel.”
**Houthis: Attacks Only Target Israel and Associated Entities**
Senior Houthi leader Mehdi stated on the evening of the 8th local time that the group’s maritime attacks exclusively target Israel and entities linked to or supporting Israel, emphasizing that unrelated vessels will not be attacked.
Security firm Ambrey advised that vessels associated with Israel should avoid navigating the Red Sea, Gulf of Aden, and Bab el-Mandeb Strait.
Insurance industry sources noted that the new attacks have drastically altered the situation, making it extremely difficult for Israel-linked vessels to obtain coverage.
**Maersk Shares Lead Gains**
Meanwhile, following the renewed Houthi attacks on commercial ships in the Red Sea, Maersk’s stock rose over 6%, Hapag-Lloyd shares increased by about 1%, and Zim gained 0.8%.
Analysts pointed out that while Trump 2.0 tariffs continue to make headlines, their disruptive impact is considered less severe than expected. At the same time, the latest attacks have delayed the Red Sea resumption timeline, both of which have positively influenced liner company stocks.
