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Israeli Shipping Company Sees Soaring Profits Because — Not in Spite — of Houthi Red Sea Attacks
A major Israeli shipping company is experiencing a surge in profits for a surprising reason: Houthi attacks on ships in the Red Sea.
ZIM Integrated Shipping Services, which has been traded on the New York Stock Exchange since 2021, achieved a 48 percent year-over-year revenue increase in the second quarter of this year to $1.93 billion.
And it’s not just revenue that has increased. Its net income rose to $373 million and its carry volume has risen 11 percent.
This all occurred amid rising tensions in the Middle East that began after the Palestinian terrorist group Hamas attacked Israel on Oct. 7, killing 1,200 people and taking another 251 hostage.
Yemen’s Iran-backed Houthi militia, a US-designated terrorist organization, began disrupting global trade with its attacks on shipping in the busy Red Sea corridor after Hamas’s onslaught, arguing its aggression was a show of support for Palestinians in Gaza.
The Houthi rebels — whose slogan is “death to America, death to Israel, curse the Jews, and victory to Islam” — have controlled a significant portion of Yemen’s land along the Red Sea since 2014, when it captured it in the midst of the country’s civil war.
The Iran-backed movement has said it will target all ships heading to Israeli ports, even if they do not pass through the Red Sea, and claimed responsibility for attempted drone and missile strikes targeting Israel. Since Hamas’s massacre across southern Israel on Oct. 7, which launched the ongoing war in Gaza, Houthi terrorists in Yemen have routinely launched ballistic missiles towards Israel’s southern city of Eilat. In July, they hit the center of Tel Aviv with a long-range Iranian-made drone.
These attacks primarily in the Red Sea, a key trade route, disrupted global shipping, raising the cost of shipping and insurance and having a major economic impact. Shipping firms have been forced in many cases to re-route to longer and more expensive journeys around southern Africa to avoid passing near Yemen.
However, ZIM’s increased revenue and profit appeared to have come because of these attacks, not in spite of them.
It was not just ZIM that experienced rising profits. According to Middle East Eye, “shares of Maersk, the Danish shipping giant operating more than 700 vessels, are up about 20 percent in the last month, while German company Hapag-Lloy — the world’s fifth-largest container shipping group — is up 17 percent.”
The reason they are making more revenue is ironically that they are taking alternative, longer routes, in order to avoid the Red Sea. The issue is that these alternative routes require additional fuel — which cost extra money. These additional costs are passed onto consumers, resulting in greater revenue.
However, the costs passed onto consumers are usually greater than the additional costs that the companies bear due to the longer routes. As a result, they are not just making extra revenue, but extra profit as well.
Observers have noted that these higher prices — which go beyond just the additional prices of fuel, for example — may be justified by pointing out that shipping has become increasingly risky, and so consumers ought to pay higher prices when companies are taking on greater risk.
Since the attacks began, the Houthis have damaged at least 30 ships. At least two cargo ships — one UK-owned and one Greek-owned — have been sunk.
Iran itself has also attacked ships. In April, Iran’s Islamic Revolutionary Guard Corps (IRGC) seized what it claimed to be an “Israeli-linked” ship near the Strait of Hormuz and, in November, Iran attacked an Israeli ship with drones in the Indian Ocean, according to the US.
As for the Houthis, they have threatened and in some cases actually attacked US and British ships, leading the two Western allies to launch retaliatory strikes against Houthi targets in Yemen.
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Ritchie Torres Blasts Columbia Over ‘Intifada’ Student Publication, Calls For ‘Revolution’ Against ‘Far-Left’
Rep. Ritchie Torres (D-NY) blasted Columbia University over the weekend over their lackadaisical approach to combating antisemitism, excoriating the Ivy League institution for allowing a terrorist-supporting student group to exist on campus.
“Columbia University is so embedded in anti-Israel propaganda that it has a publication entitled, quote, ‘The Columbia Intifada.’ What is needed in our society is a revolution of the responsible against the intifada idiocy of the far-left,” Torres said in a statement on Sunday.
Earlier this month, the prestigious university came under fire after it was revealed that ‘Columbia Students for Justice in Palestine’—a cohort of anti-Israel student activists—distributed a publication titled ‘The Columbia Intifada’ around campus. Students for Justice in Palestine (SJP) reportedly printed 1,000 copies of the publication, which included articles titled “Zionist Peace Means Palestinian Blood,”and “The Myth of the Two-State Solution.”
When pressed about the publication, Columbia University criticized the students involved and indicated that it would consider administering punishment.
“Using the Columbia name for a publication that glorifies violence and makes individuals in our community feel targeted in any way is a breach of our values,” Columbia said in a statement.
“As we have said repeatedly, discrimination and promoting violence or terror is not acceptable and antithetical to what our community stands for. We are investigating this incident through our applicable offices and policies,” the university continued.
Though the publication is not officially recognized by Columbia University, critics argue that it indicates a thriving anti-Israel sentiment on the prestigious campus.
This is not the first time that Torres has lambasted Columbia over their failure to protect Jewish students on campus. Over the past year, Torres has repeatedly condemned the campus for allowing pro-Palestine students to chant slogans perceived by many to be antisemitic. He has also called Columbia’s anti-Israel professors “pseudo-intellectuals.”
In addition, the congressman has commended New York University (NYU) for expanding its anti-harassment and non-discrimination policies to protect students who support the existence of Israel. NYU’s new hate speech policies state that deploying “code words like ‘Zionist’” do not necessarily shield students from violating the university conduct policies. He has called on Columbia to implement a similar policy.
In the year following the Hamas terrorist group’s slaughter of roughly 1200 people throughout southern Israel, Columbia has become a hotbed of pro-Palestine protests. Immediately following the Oct. 7 massacre, a litany of Columbia student groups issued statements expressing approval of the Hamas attacks and assigning blame exclusively to Israel. A mob of pro-Palestinian protesters held a demonstration in front of the City University of New York Hillel on Tuesday, shouting at Jewish students to get “out of the Middle East” and “go back to Brooklyn.”
Many Columbia campus groups have implemented policies banning self-professed “Zionists” from membership, effectively excluding the majority of Jewish students. Columbia University student Khymani James publicly stated that Zionists “don’t deserve to live.” The Ivy League university has not confirmed if James has been permanently expelled from the campus.
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‘Destroy or Explode’: Anti-Isreal Jordanian Pleads Guilty to Bomb Threat and Sabotaging Energy Facility in Florida
A Jordanian expatriate who was federally charged in August for attacking an energy facility and threatening to bomb businesses that he deemed supportive of Israel has pled guilty to his crimes, the US Department of Justice announced earlier this month.
As The Algemeiner previously reported, Hashem Younis Hashem Hnaihen, 43, this past summer vandalized small businesses in Orange County, Florida, and left “Warning Letters” addressed to the US government in which he vowed to “destroy or explode everything here in America. Especially the companies and factories that support the racist state of Israel.”
Later, he breached an energy facility in Wedgefield, Florida, where he “smashed” scores of solar panels and damaged other “electronic equipment.” The spree of infrastructure sabotage lasted “for hours,” the department added, destroying $700,000 worth of technology. In early July, Hnaihen left a final warning letter at an industrial propane gas distribution depot located in the city of Orlando., according to federal prosecutors. The Orange County Sheriff’s Department arrested him on July 11.
On Dec. 20, Hnaihen conceded to the federal government its case against him, pleading guilty to “four counts of threatening to use explosives and one count of destruction of an energy facility.” His plea also contained a promise to “make full restitution” to his victims, a debt he will likely repay by working a job in prison, where he stands to spend as many as 60 years.
“With this plea, we are holding this defendant accountable for his threats to carry out hate-fueled mass violence in our country, motivated in part by his desire to ‘warn’ businesses because of their perceived support of Israel,” US Attorney General Merrick B. Garland said in a statement announcing the news. “The Justice Department will fiercely protect the right over every person to peacefully express their opinions, beliefs, and ideas, but we have no tolerance for acts and threats of hate-fueled violence that create lasting fear.”
FBI Director Christopher Wray added, “The defendant is admitting that he attacked a solar power facility, damaged a number of Florida businesses, and left a series of threatening messages about perceived state of Israel. Violence, destruction of property, and threats are simply unacceptable.”
Hnaihen’s conviction is one among several that the Justice Department secured this year against offenders who committed crimes animated by anti-Zionist and anti-Jewish hatred.
In November, Adam Edward Braun, 34, pleaded guilty to repeatedly vandalizing a synagogue in Eugene, Oregon during a 2023 unrestrained bout of hate. Braun, graffitied the Temple Beth Israel synagogue twice in Sept. 2023, spraying “1377” for its resemblance to “1488,” a reference to Adolf Hitler and a white nationalist slogan. He came back several months later to vandalize the glazing of the synagogue’s entrance. A search of Braun’s home in Jan. yielded copious evidence of his guilt. Authorities also found “several items and writings” that were antisemitic, further implicating him in the crimes.
In October, federal prosecutors helped convict a gunman who shot two Jewish men as they exited a synagogue in Los Angeles.
Jaime Tran, 30 — an affiliate of the “Goyim Defense League” hate group — had attempted to murder two Jewish men in the Pico-Robertson section of Los Angeles in Feb. 2023. Prior to the crimes, Tran called Jews “primitive” and told a former classmate, “Someone is going to kill you, Jew” and “I want you dead, Jew.” According to the Justice Department, he even described himself as a “ticking time bomb,” broadcasting his murderous ideation to all who knew him.
After declining to fight the federal government’s case against him, Tran pled guilty in June to four charges the DOJ described as “hate crimes with intent to kill” and “using, carrying, and discharging a firearm” in the commission of an act of violence. His sentencing of 35 years ensures that he will not again be free until the year 2059.
Follow Dion J. Pierre @DionJPierre.
The post ‘Destroy or Explode’: Anti-Isreal Jordanian Pleads Guilty to Bomb Threat and Sabotaging Energy Facility in Florida first appeared on Algemeiner.com.
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Why Erdogan’s Turkish Empire Is an Emerging Threat
The world was once a series of empires. The British Empire, at its peak in 1922, covered about a quarter of the Earth’s land and ruled over 458 million people. The Russian Empire once covered about 8,800,000 sq/mi, roughly one-sixth of the world’s landmass, making it the third-largest empire in history, behind only the British and Mongols. An 1897 census recorded 125.6 million people under Russian control. Genghis Khan’s Mongol Empire, while short, was the largest contiguous empire in history.
The Ottoman Empire lasted from 1301 to 1922, and at one point, included parts of Turkey, Egypt, Greece, Bulgaria, Romania, Macedonia, Hungary, Palestine, Jordan, and Lebanon. It was, in some ways and at some times, a relatively benign occupation of other people, though decidedly not for Greeks, Armenians, or Kurds.
Why does it matter? We don’t do empires anymore. Do we?
That depends. Turkey now, under President Recep Tayyip Erdogan, is projecting its next empire — a scary combination of ISIS-related religious extremism, nationalist prejudice, and Western weaponry.
Erdogan gave a speech last week. The key paragraph is this:
Turkey is much bigger than Turkey as a nation. We cannot limit our horizon to 782,000 sq/km, Just as a person cannot escape from his destiny by fleeing it, Turkey as a nation cannot flee or hide from its destiny. We must see, accept and act according to the mission that history has given us as a nation. Those who ask, “What is Turkey doing in Libya, Syria, and Somalia?” may not be able to conceive the mission and the vision.
And, if you couldn’t “conceive the mission,” Bilal Erdogan, his son, clarified for you. At a massive rally, he exhorted the crowd: “Yesterday Hagia Sophia (once a Church in Istanbul), today the Umayyad Mosque (Damascus), tomorrow Al-Aqsa (the site of the Jewish Temple in Jerusalem).”
Today, Turkey illegally occupies a large swath of northern Syria, claiming only to have in interest in defeating the PKK –– considered by Ankara to be a Kurdish terror organization. [For the US, the Kurds were an essential partner in defeating ISIS in Syria and northern Iraq, and remain an ally.]
Between October 2019 and January 2024, the Turkish military carried out more than 100 attacks on oil fields, gas facilities, and power stations in Kurdish-held areas. According to the BBC in October 2024, Ankara cut off access to electricity and water for more than a million people.
Turkey has operated in northern Syria in conjunction with HTS, the ISIS-adjacent group that has been on the US terror list, but now appears to be seeking legitimacy as the ruler of Syria. According to a Turkish news source, as a new Syrian military establishment begins to take shape, “Turkey will actively provide consultant-expert support to the restructuring process of Syria’s sea, air, and land forces. In addition … Turkish military presence will be included in five different points of Syria.”
The new force will number 300,000, according to the Turkish report, including 40,000 fighters from HTS, and 50,000 from the Syrian National Army (SNA). The latter is actually an auxiliary of the Turkish Armed Forces. SNA forces have been deployed by Turkey as a proxy in Libya and elsewhere.
Ankara also hosts leadership of Hamas, earning a rare rebuke from the US State Department in November 2024, and Hezbollah. It should be noted that the dismemberment of Hezbollah by Israel was understood as a defeat for Iran, Turkey’s regional rival.
Turkey’s relations with Hamas, Hezbollah and the emerging Syrian military all threaten Israel. Turkey’s direct attacks on Israel — both rhetorical and military, going back to Turkish sponsorship of the Mavi Marmara flotilla in 2016 but increased after October 7 — also pose threats.
Turkey operates across Africa, as Erdogan noted in his speech. In January 2020, Turkey sent military forces to Libya in support of the Government of National Accord, the Tripoli government, followed by as many as 18,000 soldiers of the Syrian National Army (SNA — see above), which included child soldiers. Turkey has defense agreements with Somalia, Kenya, Rwanda, Ethiopia, Nigeria, and Ghana. Turkish drones have been recently delivered to Chad, Togo, Burkina Faso, Mali, and Niger.
Like many empire-driven military adventures, this one appears to have two purposes: first, to secure access to natural resources, and then to serve as a launching point for Turkish social and religious interests. Turkey has built 140 schools for 17,000 students, while 60,000 Africans are studying in Turkey.
Turkey has made clear its intention to play as a world power. It is coming up against Russia and China in Africa, and Iran in the Middle East (Iran is injured, but not defeated). While there is no mechanism for the Western countries to remove Turkey from NATO (that requires a unanimous vote, and Turkey won’t vote itself out), the United States and its allies in Europe and the Middle East should be very skeptical of Turkey’s intentions and leery of its capabilities.
Shoshana Bryen is Senior Director of The Jewish Policy Center and Editor of inFOCUS Quarterly magazine.
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