News - Yemen: Container shipping prices have increased by 40% in recent weeks, due to the US' militarization of the Red and Arabian Seas and the ongoing Israeli aggression on Gaza.

The maritime shipping website "Marine Link" explained that the average container price has risen by 40% over the past six weeks to $5,068, noting that the small free shares of Hapag-Lloyd have increased by 7% since mid-May.

The CEO of Hapag-Lloyd shipping company indicated that the demand for container shipping has led to an increase in shipping prices over the past two months due to the situation in the Red Sea.

Lloyd expects global demand for container space to increase by 3% to 4% year-on-year in 2024, noting that maritime rerouting leads to the detention of approximately 5% to 9% of global shipping capacity.

In response to the Zionist aggression and the genocide against the Palestinian people in the besieged Gaza Strip since last October, the Yemeni government imposed a naval blockade on the Zionist enemy entity last November.

Despite Sana'a's assurance that the ban only applies to Zionist ships, the US proceeded to militarize the Red and Arabian Seas, bringing in its warships and aircraft carrier with British participation, and launched an aggression on Yemen last December.

This prompted the Yemeni Armed Forces to respond by expanding the blockade on the Zionist entity to include the countries aggressing against Yemen, namely the USA and Britain. They also extended the blockade on ships to include the Indian Ocean, Mediterranean Sea, as well as the ships of maritime companies that violate the ban on entering the ports of occupied Palestine.

After October 2023, Yemen’s Armed Forces carried out operations in support of Palestinians in the Gaza Strip, who are enduring a genocidal Israeli war.

They were also meant as a response to the attacks that the US and the UK have been staging against Yemen as means of trying to stop its pro-Palestinian operations.

The Armed Forces have vowed to sustain their operations as long as the Israeli regime keeps up the brutal military onslaught that has so far claimed the lives of nearly 38,000 Palestinians, most of them women and children.

They have also pledged to continue their strikes so long as the regime retains a 2006-present siege that it has been enforcing against Gaza, and has markedly tightened during the war.