The American magazine Foreign Policy said that Russia is waging an undeclared war on Western shipping, considering that providing the Houthis with targeting data represents "crossing all red lines of maritime law."

IMO Secretary-General Arsenio Dominguez has completed a diplomatic tour of Red Sea countries to address the escalating crisis threatening global trade and the safety of seafarers.

Danish shipping group A.P. Moller-Maersk said on Thursday it expects strong demand for cargo shipping around the world to continue in the coming months, although it does not expect sailings through the Suez Canal to resume until 2025.

Major shipping companies, such as Hapag-Lloyd and Maersk, have stopped using routes through the Red Sea and the Suez Canal since last November, due to the Houthi group targeting ships, which disrupted global trade.

Additional war risk insurance premiums paid when ships sail through the Red Sea have increased by up to two percent of the ship's value.

First-half earnings in Asia revealed that the ongoing impact of the Red Sea crisis will continue to be a costly burden for companies that manufacture goods for export, while companies that transport these goods benefit from higher freight rates as the crisis deepens.