US announces a 10 nation coalition to fight attacks on ships in the red sea

United States has announced a 10-nation coalition to quell Houthi missile and drone attacks on ships transiting the Red Sea, with Britain, France, Bahrain and Italy among countries joining the "Multinational security initiative, amidst moves by leading container shipping companies like Maersk and Hapag Lloyd announcing diversion of ships from the Red sea route costing the shippers to Europe a fortune owing to increasing freight charges

"Countries that seek to uphold the foundational principle of freedom of navigation must come together to tackle the challenge posed by this non-state actor," US Defense Secretary Lloyd Austin said in a statement. The security coalition, Austin said, will operate "with the goal of ensuring freedom of navigation for all countries and bolstering regional security and prosperity." It includes the United States, United Kingdom, Bahrain, Canada, France, Italy, Netherlands, Norway, Seychelles and Spain, Austin said

Iran-backed Houthi rebels have escalated attacks on tankers, cargo ships and other vessels in the Red Sea, imperiling a transit route that carries up to 12 percent of global trade. Yemen's Iran-backed Houthi rebels said earlier they had attacked two "Israeli-linked" vessels in the Red Sea in solidarity with Gaza, as more companies halt transit through the troubled but vital waterway.

The attacks on the Norwegian-owned Swan Atlantic and another ship identified by the Houthis as the MSC Clara are the latest in a flurry of maritime incidents that are disrupting global trade in an attempt to pressure Israel over its war against Hamas militants. In a statement, the Yemeni rebels said they had carried out a "military operation against two ships linked to the Zionist entity" using naval drones. They vowed to "continue to prevent all ships heading to Israeli ports... from navigating in the Arab and Red Seas" until more food and medicine is allowed into Gaza.

The Red Sea attacks have forced insurance companies to significantly increase premiums on ships, making it uneconomical for some to transit through the Suez Canal. Italian-Swiss giant Mediterranean Shipping Company, France's CMA CGM, Germany's Hapag-Lloyd, Belgium's Euronav and Denmark's A.P Moller-Maersk -- the latter accounting for 15 percent of global container freight -- have all stopped using the Red Sea until further notice. TorbjornSoltvedt of analysis firm Verisk Maplecroft told AFP.

Rebel spokesman Mohammed Abdul Salam said neutral Oman had launched mediation efforts to safeguard shipping using the waterway