Houthi forces restart Red Sea attacks, putting two major shipping chokepoints under pressure

（Source: Shipping Information）

According to a report by CCTV News, on March 28 local time, the Yemeni Houthis issued a statement saying that, given the continued escalation of the situation in the region and military actions targeting relevant objectives in Lebanon, Iran, Iraq, and Palestine, the organization has launched its first military operation. Earlier, Reuters analysis pointed out that if the threat posed by the Houthis becomes a reality, uncertainty surrounding global key trade corridors will further intensify. In response, multiple major international shipping companies have raised their alert levels and taken countermeasures.

Previously, the focus of international public opinion was mainly on energy transportation risks in the Strait of Hormuz. However, with the conflict spilling over, the Red Sea–Suez shipping route—another core trade corridor connecting Asia and Europe—has also once again shown new instability. Global two major key shipping corridors are forming a situation of overlapping dual pressures.

Why the two “throats” are so crucial

The Strait of Hormuz has long handled roughly 20% of the world’s seaborne oil and liquid cargo transport, with daily throughput of as much as about 20 million barrels. Since the outbreak of the conflict on February 28, tanker traffic through the strait has fallen markedly, with large numbers of vessels either stuck in place or forced to change routes. On the Red Sea route, between 2023 and 2025, attacks by the Houthis had caused a significant decline in Red Sea container transport volumes. Shipping companies such as Maersk and Hapag-Lloyd have suspended routes via the Red Sea–Strait of Mandeb and the Suez Canal, switching instead to sailing around Africa’s Cape of Good Hope. As a result, single-voyage transit times have been extended by 10 to 14 days, and transportation costs have increased significantly. If tensions rise further, the Strait of Mandeb—gateway to the Suez Canal—will be hit again.

Three major energy categories are hit first

Under the dual impact of restricted transportation through the Strait of Hormuz and rising Red Sea risks, global energy supply faces concentrated pressure. For crude oil, the strait carries about 20% of the world’s seaborne oil trade, with roughly 15 million to 17 million barrels of crude oil passing through daily; for liquefied natural gas, it accounts for about 20% of global LNG trade volume, with its main source being Qatar; for refined oil and petroleum products—including gasoline, diesel, and jet fuel—the daily transportation volume reaches several million barrels.

Shipping risks transmit along the supply chain

Escalation of the conflict is driving up international energy prices and beginning to affect the supply of industrial goods such as fertilizers and metals. The Wall Street Journal, citing related assessments, noted that if the situation remains tense, global economic growth will face pressure and inflation levels may rise further. Analyses from the UN Conference on Trade and Development in the past have shown that blockages of key shipping routes can significantly increase freight rates as well as fuel and insurance costs, and these costs ultimately pass through to the consumer end. Such centralized energy shocks may be gradually amplified through the supply chain, evolving into broader inflation and growth pressures. Multiple media analyses believe the current situation has moved beyond a single-region security issue and is evolving into a systematic test of the global trade infrastructure, with substantial uncertainty about restoring stability in shipping corridors in the short term.

The U.S. Middle East actions have been ineffective; the situation is complex and hard to control

A recent editorial by the Wall Street Journal says that U.S. military actions in the Middle East triggered a rapid, coordinated response from Iran’s “axis of resistance,” with the complexity of the situation continuing to rise and the marginal effects of external intervention facing clear challenges. Reports by The New York Times also point out that while U.S. military actions in the Middle East have demonstrated powerful firepower, when dealing with cascading reactions from regional forces such as the Houthis, the U.S. failed to effectively prevent the opening of new frontlines, and allied responses have been limited. This makes regional conditions show a risk of expansion beyond expectations, and the U.S. deterrence strategy is facing a long-term implementation predicament.

With two “throat” shipping routes simultaneously bearing pressure, the global shipping system—which originally had some buffering capacity—now faces unprecedented challenges in coordination and scheduling. The U.S. and its partner have attempted to change the regional security landscape through external military intervention. However, the uncertainty and spillover costs brought about by this are instead being shouldered jointly by a broader international community.

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