Red Sea crisis nears boiling point, unable to heat up spot rates


Source: freightwaves.com freightwaves.com

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Russian warships entered the Red Sea last Thursday, for what the Russian Pacific Fleet’s press service has stated was the performance of “assigned tasks within the framework of the long-range sea campaign.” This intentional vagueness has invited no small amount of speculation as to the ships’ true objectives. Theories range from retaliatory pressure on Israel, which decided in late February to co-sponsor a United Nations resolution condemning Russia’s invasion of Ukraine, to supporting beleaguered ally Syria’s military objectives in the region. Then again, the warships might simply be in the Red Sea to guard against attacks from Yemen-backed Houthi rebels....