On January 15, the United States Central Command reported that Houthi rebels in Yemen launched an anti-ship missile, striking the U.S. container ship M/V Gibraltar Eagel flying the flag of the Marshall Islands. The attack, which occurred at approximately 4 p.m. local time (9 p.m. Beijing time), reportedly caused no casualties or severe damage, and the vessel continued its journey as planned.
Later that day, large explosions were heard in Hodeidah, a Red Sea city controlled by the Houthi rebels. The rebels have vowed to continue targeting Israeli ships or those heading to Israeli ports until Israel ceases its aggression and blockade of Gaza.
In response, the U.S. Department of Transportation warned that U.S. commercial vessels might face retaliatory attacks by the Houthis and advised avoiding the Red Sea route until further notice. Earlier advice recommended avoiding the route for 72 hours.
The announcement did not significantly boost oil prices on Monday, with a slight narrowing of the day's initial 0.9% decline. The U.S. market was closed for Martin Luther King Jr. Day.
European shipping stocks reacted to the developments. Maersk's stock in Copenhagen rose by 0.69% to 131,235 Danish Krone, stabilizing around 13,000 after a peak of 14,430 on January 4. Hapag-Lloyd's Frankfurt stock climbed 2.69% to 160.3 Euros, stabilizing around 160 Euros after reaching 179.4 Euros on January 5. MSC's Swiss stock fell by 0.84% to 295.80 Swiss Francs.
Data compiled by Vortexa indicated a decrease in oil and petrochemical tankers passing through the Red Sea's Mandeb Strait. In the first 12 days of 2024, net oil tankers (excluding those carrying biofuels, chemicals, or lubricants) through the strait decreased by 39% year-on-year, while heavy oil product tankers (including fuel oil) dropped by 12%.
Amid escalating tensions in the Red Sea, the latest Shanghai Export Containerized Freight Index (SCFIS) drew attention amidst the ongoing complexities in the Red Sea. According to the Shanghai Securities News, data published by the Shanghai Shipping Exchange on January 15 showed that the latest SCFIS for the European route jumped 49.7% to 3140.70 points compared to the previous period. Corresponding to this, the Container Freight Index (European Line) futures, listed on the Shanghai International Energy Exchange, have also resumed their upward trend. On January 15, the main contract EC2404 closed at 2068.3 points, an increase of 0.80%, with a cumulative gain of over 16% in nearly three trading days.
CCTV News quoted Iranian analyst Hassan, who opined that the U.S. and UK airstrikes on Yemen would not stop Houthi actions in the Red Sea but might provoke retaliation from Houthi allies, worsening the regional situation and expanding the conflict. Hassan also believes the airstrikes, which he claims violate international law and infringe Yemen's sovereignty, should be condemned by the international community, advocating for a peaceful resolution based on dialogue and respect for people's rights. Additionally, he urged the U.S. to pressure Israel to cease military actions in Gaza.
