Overview

• On July 5, the Liberian-flagged bulk carrier Magic Seas was hit by Houthi drones, missiles and small arms fire, forcing its 22-member crew to abandon ship before it sank.
• A second vessel, Eternity C, has lost all propulsion under continuous Houthi fire near Hodeida and is reported adrift with crew members missing.
• Israel Defense Forces jets have bombed missile launchers and port facilities under Houthi control in retaliation for the Red Sea attacks.
• Commercial traffic has rerouted around Africa, adding thousands of miles to voyages and slashing container throughput in the Red Sea corridor by about 90%.
• Insurance premiums for transits have surged as carriers warn of elevated risks to crews and mounting global supply chain delays.