Aden — Major international shipping companies have ruled out resuming operations through the Red Sea, citing the continued threat posed by Yemen’s Houthi movement and the absence of credible security guarantees in the region. 

Despite a relative lull in attacks in recent weeks, industry leaders say the risk remains too high to justify a return to the strategic waterway.

Since late 2023, Houthi forces have claimed responsibility for over 130 attacks on commercial vessels transiting the Red Sea and Bab al-Mandab Strait, prompting most global carriers to reroute their ships around the Cape of Good Hope — a detour that adds significant time and cost to Asia-Europe trade routes.

While some regional actors have floated proposals for de-escalation or maritime security coordination, shipping executives remain unconvinced. “There are no enforceable guarantees that our vessels and crews will be safe,” said a senior official at a European shipping firm. “Until there is a verifiable cessation of hostilities and a credible security framework, we will not risk transiting the Red Sea.”

The continued absence of a binding international agreement or neutral maritime corridor has left insurers maintaining high war-risk premiums — reportedly up to 1% of a vessel’s hull value — further discouraging a return to the route.

Recent incidents, including the late September attack on the Dutch-flagged Minervagracht, have reinforced industry concerns. Although the crew was evacuated by European naval forces, one seafarer later died from injuries sustained in the assault.

Analysts warn that the prolonged disruption of Red Sea shipping could have lasting consequences for global trade, particularly for energy and container flows between Asia, Europe, and the Middle East. 

The Suez Canal, which relies on Red Sea access, has seen a sharp decline in traffic, affecting revenues for Egypt and increasing pressure on alternative ports.

Despite calls from international organizations for de-escalation and protection of civilian maritime traffic, the Houthis have maintained that their actions are part of a broader regional response to Israeli military operations and Western involvement.

Until a durable political or security resolution is reached, shipping companies appear firm in their stance: the Red Sea remains off-limits.