Red Sea

Between December 2023 and early 2024, container shipping across the Red Sea decreased by 90%. Large shipping companies like Maersk, Hapag-Lloyd, and MSC diverted their ships around the Cape of Good Hope, resulting in an additional 14 days and more than $1 million in fuel expenses per trip.

An insider mentioned, "India has crude oil in reserve for 25 days, alongside petrol, diesel and LPG for 25 days as well."

Basically, Somaliland is a de facto nation with democracy, functional government and relative stability with a developing economy, which is not recognised as a 'country' by the UN yet. Somalia is none of the above, but is still a 'country' recognised by the UN.

It is notable here that Yemen lies over 2000 km away from Israel, and the two nations are separated by the entire span of Saudi Arabia’s western coast along the Red Sea. The land distance even includes the breadth of Jordan after the Saudi mainland, still the Houthis have been trying to hit Israel with ballistic missiles for over a year. 

In televised statements, Houthis vowed that the group would continue its attacks in support of Palestinians in Gaza.

The attack against the Gibraltar Eagle seems to be the first time the Houthis have successfully hit a US-owned or operated ship, increasing the stakes in the Red Sea after the US pledged that further Houthi launches would be given a response.