Part 12/14:

This vacuum of effective global governance emboldens actors like the Houthis and Iran, who perceive the current international order as either impotent or favoring Western interests. Consequently, these groups are increasingly willing to challenge free maritime access.

The Path Forward: Risks and Precautions

As negotiations continue within Yemen and amid ongoing regional tensions, the risk persists that attacks on shipping will escalate or expand eastward. The potential involvement of other non-state actors and pirates adds complexity to the security challenge.

Market stakeholders, including traders, shipping companies, and governments, are already adjusting strategies—diverting routes, increasing inventories, and investing in maritime surveillance—to mitigate risks.