Concerns over increased attacks on vessels in Red Sea disrupt global trade patterns

News Snapshot:

Japanese shipping operator Nippon Yusen suspended sailings through the Red Sea on Tuesday after Yemen’s Houthi movement vowed to step up attacks on vessels in the region. The Iran-allied Houthi group has threatened to expand its targets to include U.S. ships in response to American and British strikes on its sites in Yemen. Attacks by the Houthis on ships in area since November have impacted companies and alarmed major powers, in an escalation of Israel’s more than three-month war with Hamas militants in Gaza. The group says it is acting in solidarity with Palestinians. As well as disrupting supply chains,...