Frederic Denefle
Shipping insurance rates soar on Red Sea missile attacks
Attacks by Yemen's Huthi rebels on commercial ships in the Red Sea have sent insurance premiums surging, exacerbating costs already stretched by soaring freight rates and longer alternative trade routes.
The Huthis have carried out relentless attacks since November on shipping transiting the Red Sea, a maritime hub through which 12 percent of global trade usually passes.