Will the Houthi attacks in the Red Sea affect the superyacht sector?

A spate of maritime attacks on commercial ships in the southern Red Sea and Gulf of Aden by the Houthis has caused a significant decline in the number of merchant vessels passing through the area. But how will it affect superyacht traffic, and what are the long-term effects for the industry as a whole? BOATPro investigates…

What is happening in the southern Red Sea?

On 19 November 2023, the 189.2-metre Galaxy Leader cargo vessel was boarded by Houthi militants using a helicopter as it passed through the southern Red Sea. Originally en route to India, the hijacked vessel was then redirected to the Hodeidah port in Yemen, where it is still being held along with its 25 crew members.

Since then, at least 40 vessels have suffered direct strikes, according to data analysed by global maritime risk management firm Ambrey, coming from either armed militants or an array of ballistic missiles, cruise missiles and even “kamikaze” drones.