Red Sea Chaos: Houthis sink two ships in a week ☠️

SHIPPING NEWS

Red Sea Chaos Returns: Two Ships Sunk in a Week

On July 6, 2025, the Liberian-flagged, Greek-operated bulk carrier Magic Seas was attacked and sunk in the Red Sea by Yemen's Houthi rebels, marking their first successful ship sinking of the year. The assault involved small arms fire, rocket-propelled grenades, and explosive-laden drone boats, forcing the crew to abandon the vessel as it took on water and caught fire.

The Magic Seas was carrying a cargo of iron and fertilizer from China to Turkey. All 19 crew members were rescued by a nearby merchant ship and taken safely to Djibouti. The Houthis later claimed responsibility, stating the attack was retaliation against companies violating their ban on calling at Israeli ports.

Just two days later, a second ship, the Eternity C, also Liberian-flagged and Greek-operated, was targeted in a more brutal attack. This time, the vessel was struck by a series of sea drones and RPG fire over a two-day assault. The Eternity C sank on July 9 with devastating consequences—at least three crew members were confirmed dead, and over a dozen were reported missing. Only seven crew were rescued.

These back-to-back attacks ended a months-long pause in maritime violence and triggered swift retaliation. Israeli forces launched coordinated airstrikes on Houthi-controlled ports and infrastructure in Yemen, including Hodeida and Ras Isa. In response, the Houthis fired ballistic missiles toward Israel, which were intercepted midair.

The escalation is having a ripple effect on global shipping. War risk premiums for vessels passing through the Red Sea have more than doubled—from 0.4% to 1% of a ship’s insured value—adding up to $1 million in extra insurance costs for a $100 million vessel. The Red Sea is once again a high-risk flashpoint.

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