There is no mystery as to where the blame lies. Yehia Sareea, a spokesman for the Houthis in Yemen, confirmed responsibility for the two attacks on Friday, saying the boats were attacked because the crew refused to respond to calls from the Yemeni navy.

Sareea also said that the Houthis would only attack ships heading to Israeli ports and that ships going elsewhere would not be attacked, as long as they "make sure the identification equipment is always on."

Key shipping lanes are clouded

That said, shipping companies are not at ease.

A.P. Moller-Maersk, which operates the world's second-largest container fleet, announced on Friday that it had instructed all ships preparing to pass through the Bab el-Mandab Strait to "suspend their journeys" until further notice. Maersk also revealed that the company's "Gibraltar" cargo ship was nearly hit by Houthis on Thursday.

Hapag-lloyd, the world's fifth largest container fleet directly linked to the attack, also announced on Friday that it was suspending all routes through the Red Sea until next Monday.

Multinational commodities giant Trafigura also said on Friday it was taking "additional protective measures" for owned and chartered vessels.

Maersk Tankers, a shipping service owned by Maersk, also said on Friday that it was considering rerouting Asia-Europe vessels around the Cape of Good Hope to avoid the recently volatile Bab el-Mandeb Strait.

Update: Mediterranean Shipping, the world's largest container fleet, has just announced that in order to protect the lives of crew members, Mediterranean shipping vessels will not pass through the east and west lanes of the Suez Canal until the Red Sea passage is secured. For now, some routes will be diverted through the Cape of Good Hope.

The Singapore-Rotterdam route, for example, normally runs through the Bab el-Mandeb Strait into the Red Sea and then through the Suez Canal into Europe, according to estimates by S&P Global Commodity Insight. To go around the Cape of Good Hope, the southernmost part of Africa, the entire voyage would be 40% longer. Shipping data shows that some freighters have already begun "detour" routes.

While international logistics companies are calling on the international community to ensure the safety of maritime transportation, the U.S. Department of Defense has repeatedly confirmed that American warships have been attacked by Houthi forces several times in the past month.

The 20-mile-wide Bab el-Mandeb Strait is largely a must for long-haul cargo ships traveling through the Suez Canal. According to EIA data, in the first half of 2023, about 8.8 million barrels of crude oil per day will be shipped through the strait, along with 4.1 billion cubic feet of natural gas.

The impact of geographical risk has also been reflected in the price. According to S&P Global, containers bound for the Middle East will now be subject to a war risk surcharge of $100 per teu, which applies to dry and refrigerated cargoes. At the same time, North Asia-UK container rates via the Red Sea-Suez Canal have also risen to a new high in 2023.

The risks may not stop there. Vandana Hari, founder of Singapore-based research firm Vanda Insights, said shipping is often the "canary in the coal mine" and expects geopolitical tensions to continue to be a focus in 2024.

By the way, the Panama Canal, another key waterway for the Earth, is also in a state of restricted flow due to drought. The simultaneous development of two important canals is not good news for global supply chains.

Second, what is the next step

After a summit of European Union leaders on Friday, French President Emmanuel Macron called on EU member states to work together to maintain the operation of sea lanes. Macron also revealed that French warships had intercepted a Houthi missile aimed at a Norwegian merchant ship.

Of course, more eyes are on the US Navy in the region. According to the British media, although Israel has been pressuring the United States to resolve the sea lane attack, the United States has been hesitant to directly attack the missile launching equipment of the Houthi armed forces, because of fears that the regional conflict will further expand.

So the US is more likely to form a multinational naval escort coalition to protect merchant ships and shoot down any incoming missiles and drones.