Chinese cargo ships poised to gain from Red Sea tensions

Houthis believed to grant safe passage to nations friendly with Iran

20240418N Galaxy Leader REUTERS

The hazards posed by navigating through the Red Sea were underscored by the seizure of the Japanese-operated Galaxy Leader by Houthi rebels in November. © Reuters

TAKESHI KUMON, Nikkei senior staff writer

TOKYO -- After Iran's unprecedented direct strike on Israel, shipping companies have reason to fear Houthi rebels in Yemen may escalate attacks on vessels passing through the Red Sea. But the risk-reward profile looks different from Beijing.

When Iran attacked Israel on April 13-14, the Iranian-backed Houthis also attempted to launch missiles and drones at Israel from more than 2,000 kilometers to the south.

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