Attacks on commercial ships in the Red Sea risk pushing up the price of oil and other goods, analysts have warned.
Several firms have paused shipments through the route after vessels were attacked by Houthi rebels in Yemen.
The world’s second largest shipping line, Maersk, said on Tuesday that it would reroute some of its vessels around Africa’s Cape of Good Hope.
The disruption has led the US to launch an international naval operation to protect ships on the Red Sea route.
The US has also said it would welcome China playing a constructive role in trying to prevent further attacks.
The analysts’ warnings came as the rebels vowed to continue their attacks in the Bab al-Mandeb strait, a vital shipping lane between Asia and Europe.
“Even if America succeeds in mobilising the entire world, our military operations will not stop… no matter the sacrifices it costs us,” said senior Houthi official Mohammed al-Bukhaiti on X, formerly Twitter.
The Red Sea is one of the world’s most important routes for oil and liquefied natural gas shipments, as well as for consumer goods. It is bookended by the Bab al-Mandab Strait – also known as the Gate of Tears – in the south near the coast of Yemen and the Suez Canal in the north.
Houthis have declared their backing for Hamas in its war with the Israelis and the rebels based in Yemen said they were targeting vessels which they believe are heading for Israel.
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