In the first three weeks of March, the number of vessels sailing in the Suez Canal went down 51% year over year. Since November last year, shipping risk has gone up as the Houthis began attacking vessels in the waters of the Red Sea and the Gulf of Aden.
Simultaneously, the piracy activities that were happening off the eastern coast of Somalia have gone up, and since December, two bulk carriers and many fishing vessels have also been hijacked.
This marks the first-ever...