Iran-backed Houthi rebels in Yemen have targeted commercial vessels with drones and missiles passing through the southern Red Sea. They say the attacks on ships destined for Israel are in solidarity with Palestinians and to facilitate humanitarian aid into the Gaza Strip. As a result, one major shipping company has had enough of the disruptions and decided to halt sails to Israel to avoid being attacked on the critical waterway that connects to the Suez Canal.
Bloomberg reports that Chinese state-owned shipping giant Cosco suspended all container ship transits through the Red Sea to Israel. This is to avoid being attacked.
The head of the Israeli Chambers of Commerce, Amir Shani, said Cosco informed him of the decision today. A source told Bloomberg that Cosco bookings to Israel will end next week.