Will The U.S. Coalition War Against Yemen Impact The Global Economy?

 

CNBC: Tanker companies temporarily halt traffic toward Red Sea after U.S. airstrikes on Houthis 

* Hafnia, Torm and Stena Bulk confirmed that they halted traffic toward the Red Sea after airstrikes on Houthi militants in Yemen. 

* The companies are among the world’s largest operators of petroleum product tankers, according to their websites. 

* The multinational coalition advised ships to avoid transiting the Bab el-Mandeb Strait for “several days,” according to the International Association of Independent Tanker Owners. 

Several of the world’s major tanker companies on Friday halted traffic toward the Red Sea after U.S. and British airstrikes on Iran-allied Houthi militants in Yemen. 

Hafnia, Torm and Stena Bulk confirmed that they halted traffic toward the crucial trade gateway in response to an advisory from the Combined Maritime Forces, a multinational coalition led by the U.S. 

“Considering these developments and in alignment with expert recommendations, we have decided to immediately halt all ships heading toward or within the affected vicinity,” Hafnia spokesperson Sheena Williamson-Holt told CNBC in statement. 

Read more .... 

WNU Editor: The impact has so far been minimal .... Oil rises 1% as more tankers avoid Red Sea after strikes (Reuters). More here .... Oil prices rise on US-UK strikes over Red Sea attacks (BBC). But shipping costs are going through the roof .... Shipping costs are more than 300% up as Suez crisis deepens (SKY News). 

The Global Economic Impact From Yesterday's Military Strikes Against Yemen 

Red Sea chaos risks 'brutal' price rises -- The Telegraph  

Oil tankers divert from Red Sea after US, UK strikes in Yemen -- Reuters 

Is the economy facing another energy price shock? -- BBC  

How the Red Sea crisis could clobber the global economy -- CNN