Houthi explosive drone boat attacks escalate Red Sea danger
Black Sea drone attacks showed their effectiveness
Psychological tactics also deployed
War risk insurance premiums could rise
But Chinese vessels avoid higher premiums
By Jonathan Saul and Renee Maltezou
LONDON, July 3 (Reuters) -Yemen's Houthis are sending drone boats packed with explosives into the Red Sea as they intensify their attacks on merchant ships that have little defence against the "sophisticated shift" in tactic, maritime security sources say.
Iran-aligned Houthi militants first launched aerial drone and missile strikes on the trade route in November in what they say is solidarity with Palestinians in Gaza. In over 70 attacks, they have sunk two vessels, seized another and killed at least three seafarers.
In recent weeks, at least three ships have been attacked by unmanned surface vehicles (USVs) and in one incident it contributed to the sinking of the Tutor cargo ship. There was no such activity in November.
"These USVs, loaded with explosives, represent a sophisticated shift in asymmetric warfare tactics, enabling the Houthis to strike with precision and at a distance, thus minimising their exposure to counter-attacks," Dimitris Maniatis, CEO of Maritime Risk Managers MARISKS, said.
According to maritime security sources and Reuters analysis, there have been at least six defensive strikes on USVs by US-led coalition warships since February.
INSPIRED BY UKRAINE?
On June 27 and June 30, two separate vessels were targeted by Houthi swarming tactics, including multiple seaborne attack drones, maritime agency, the United Kingdom Maritime Trade Operations (UKMTO), said.
"USVs strike vessels at the waterline, and this, combined with the substantial warhead size, has the potential for significant water ingress and damage control issues," said Munro Anderson, head of operations at marine war risk and insurance specialist Vessel Protect, part of Pen Underwriting.
"It is highly likely that in light of the very public success such devices have had, when used by Ukrainian forces within the Black Sea, that Houthis have sought to deploy such tactics to their own ends."
A Houthi spokesperson did not respond to a request for comment.
In another emerging tactic, some of the USVs have been logged as potentially having dummies to resemble pirates in another psychological tactic aimed at confusing seafarers, an official with Greek maritime security company Diaplous said.
"In most cases we understand that the Houthis are using 'spotters' at sea, who often record the attack from a small distance, and on most (if not all) operations remotely steer the USV to the target," MARISKS Maniatis added.
Insurance industry sources said that additional war risk premiums, paid when vessels sail through the Red Sea, were quoted up to 0.7% of the value of a ship in recent days from around 1% earlier this year, adding hundreds of thousands of dollars of extra costs and the latest threats could push rates higher in coming weeks.
Rates for Chinese vessels - seen as not having any connection with Israel or the U.S. which are targeted - have remained around 0.2% to 0.3% in contrast, sources added.
Reporting by Jonathan Saul in London and Renee Maltezou in Athens, additional reporting by Mohamad Ghobari in Aden, Yannis Souliotis in Athens and Lisa Baertlein in Los Angeles; editing by Barbara Lewis
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
