Houthi, Somali pirates significantly disrupt seaborne trade

Non-governmental organization BIMCO said that the attacks by Yemen’s Houthi militants in the Red Sea and by pirates off the eastern coast of Somalia affected about 13% of the global seaborne trade in 2023 by lowering the number of ships sailing in the zone by 50%, Marine Insight reported. The number of vessels sailing in the Suez Canal were down 51% year-over-year in the first three weeks of March due to the attacks from the Houthis.