Higher costs and closed trade lanes are hitting African countries hard. But there are opportunities for the continent to benefit in the longer term

UPDATE: Analysis of a video circulated by Houthi following the attack suggest that a Shehab drone may have been used against MSC Orion, suggesting that significantly more accurate weapons with a range of up to 1600km are now being used to target ships

Move comes after Howden’s recent launch of cargo facility for Red Sea

Eastmed-managed Cyclades sustained damage from a Houthi attack, UKMTO said. The militants confirmed targeting the vessel — which called in the Houthi-controlled port of Saleef in mid-April — and also claimed to have hit an MSC boxship and US naval assets

Those not willing to accept the risk of a Houthi attack have diverted and those that remain are likely going to continue sailing the shipping lanes off Yemen regardless of how the situation develops based on behaviour to date

The move will see safety and risk management, claims and underwriting teams work more closely together to adapt cover offered by marine mutual

After a two-week lull in activity, Iran-backed militant group the Houthis have launched several attacks at shipping in the Red Sea over the past 24 hours

UKMTO reported the incident in the Red Sea on the morning of April 24, which comes after a significant quiet period for attacks in the region