In addition to the nature of the hijacking incident of the commercial ship (Galaxy Leader) in the Red Sea, who was behind it, carried it out, and its purpose, and who is the unit to which the ship belongs, and what the statements said. , let’s look at what happens after this incident, and what economic consequences it can have in particular. .
We remind you that since the Houthi coup against power and the launch of their aggressive war in 2015 AD, all international shipping companies, specifically the maritime ones, have become dangerous and unsafe according to international and regional classification, and this classification has had negative effects locally. On the one hand, it justified the international presence of military ships in territorial waters and the violation of local sovereignty. Along the Yemeni coast, with the aim of protecting commercial ships from any risk, and on the other hand, pushing international companies to raise the cost of insurance for ships that passes through this important international corridor – Bab al-Mandab – against the security risks of its sailing.
The measures to increase the cost of ship insurance had negative effects on the Yemeni economy in general, and on the citizen in particular, because the high price of ship insurance caused an increase in the prices of goods and added to the burden on citizens, and the matter was compounded by the fact that most if not all of the goods were imported from abroad.
Therefore, the seizure of the ship, which took place in the Red Sea, doubles the threats to international shipping traffic in Bab al-Mandab, which can negatively affect the movement in this shipping line on all ships without exception, thus thwarting governmental and regional efforts that have been. trying to reduce the cost of ship insurance. Ships, on the other hand, expand and deepen the scale of interference and violation of local waters under the pretext of protecting ships, and an additional cost can be raised on top of the already high insurance. fees, not to mention any military response measures that international powers, not just Israel, may use.