The latest incident resulted in the vessel sustaining significant damage to its hull and led to the crew abandoning the ship. Several ocean carriers now think the crisis will last much longer than expected, with Maersk among those lines now envisaging some disruption to their services up to the middle of the year.

In other developments and with three months having elapsed since the capture of the vehicle carrier GALAXY LEADER and its crew being held hostage, various shipping industry associations, including the UK’s International Chamber of Shipping and the ITF, have co-signed a letter demand its and their release.

The letter read: “The 25 seafarers who make up the crew of the GALAXY LEADER are innocent victims of the ongoing aggression against world shipping, and their plight is a major concern as the merchant shipping community continues to come under attack. It is abhorrent that seafarers were seized by military forces and that they have been kept from their families and loved ones for too long. All 25 crew members of the GALAXY LEADER must be released now.”

Meanwhile, the latest agreement concluded by the International Bargaining Forum (IBF)– a platform for negotiations between crew and shipping companies – has given seafarers the right to refuse to sail on ships passing through the red Sea.

In a statement the ITF and IBF said: “Seafarers must give seven days’ notice prior to entering the area [Red Sea] and have the right to be repatriated to another location at the shipping company’s cost. The decision to include seafarers’ right to refuse to sail was not a step taken lightly as this could negatively impact global trade, but the safety of the seafarers is paramount.”

the statement continued: “Sadly the conflict in the region has escalated, with further attacks on commercial vessels that are increasingly more sophisticated.”

The latest arrangement also includes compensation equal to two months basic salary.

Finally, a new navy task force is being assembled by the EU for the region with its mission stated as, and limited to, “protecting civilian shipping in the Red Sea and that not carrying out attacks on Yemeni soil.”

Aspides, which is the Greek word for shield, is expected to be in place within a few weeks with Belgium, France, Germany and Italy confirming they will commit tonnage.  It has the mandate to operate for one year.

Aspides will complement Operation Prosperity Guardian (OPG) launched in mid-December and operated under the umbrella of the Combined Maritime Forces and leadership of Task Force 153, a US-navy –led initiative focused on maritime security in the Red Sea.

While OPG has allowed ships to transit the area, the majority of shipowners/operators have opted to sail around the Cape of Good Hope, adding between eight and 10 days to average sailing times and an extra US$1M in fuel costs alone. Meanwhile, beneficial cargo owners have had to pay higher freight rates and have faced delays in getting their goods.

The Houthis have targeted commercial ships with drones and missiles in the Red Sea since mid-November in what they describe as acts of solidarity with Palestinians against Israel in the Gaza war. But whether their actions will stop should a ceasefire be negotiated and/or hostilities end is unclear. Some observers believe the Houthi’s mission is to destabilise the region and disrupt global trade and  their attacks could continue well after the war has ended.