With the Israel-Gaza crisis in full swing, the Red Sea, which sees a lot of maritime traffic between Europe and Asia with its connection to the Mediterranean Sea via the Suez Canal, became a flurry of maritime incidents after the Houthis decided to employ maritime retaliation tactics against global shipping companies with ties to Israel, affecting those with no such bonds as well.
As a result, supply costs went through the roof and safety concerns rose sharply, prompting an exit from the Red Sea trade, as a significant number of shipping players were forced to halt their shipping activity through this maritime route and reroute some vessels that were on their way to the Red Sea.
