The new attack in the Red Sea and its consequences for maritime transport
An oil tanker bound for India was the target of a missile attack in the Red Sea, raising concerns about safety in international maritime transport and highlighting geopolitical tensions in the region.
The Panamanian-flagged tanker, M/T Pollux, was hit by a missile launched from Yemen while sailing through the Red Sea. The incident, which occurred 72 nautical miles (133 km) northwest of the port of Mokha, raised alarm among maritime authorities and international observers.
The M/T Pollux embarked in the Russian Black Sea port city of Novorossiysk on January 24 and was due to disembark in Paradip, India, on February 28, according to LSEG data. The Indian Oil Company has a 300 barrels per day (bpd) oil refinery in Paradip, in the eastern state of Odisha..
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Traces of geopolitical tension
The attack on the oil tanker raises questions about the role of the Houthis, an Iran-backed Yemeni rebel group, and their influence in the waters of the Red Sea. The Houthis claimed responsibility for the attack in solidarity with the Palestinians and in response to Israel's alleged “crimes” against them.
Provocative televised statements by Houthi leaders, including Abdulmalik al-Houthi, highlight regional tensions and the potential for conflict to escalate. The belligerent rhetoric threatens not only maritime security but also broader geopolitical stability in the region.
Economic and trade impacts: Challenges for global trade
The attack on the M/T Pollux and other incidents involving ships in the Red Sea have significant repercussions on global trade and the world economy. Shipping disruptions raise fears of inflation and market instability, while the ongoing war between Israel and Hamas raises concerns about regional security.
The disruption of maritime trade due to attacks on oil tankers poses a serious threat to the global economy, highlighting the need for urgent measures to protect the safety of ships and ensure stability on international trade routes.