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Israeli Shipping Company Sees Soaring Profits Because — Not in Spite — of Houthi Red Sea Attacks

Explosions take place on the deck of the Greek-flagged oil tanker Sounion on the Red Sea, in this handout picture released Aug. 29, 2024. Photo: Houthi Military Media/Handout via REUTERS

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.

The post Israeli Shipping Company Sees Soaring Profits Because — Not in Spite — of Houthi Red Sea Attacks first appeared on Algemeiner.com.

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American Jewish Tourists Attacked and Robbed in Venice, Authorities Investigate Possible Hate Crime

An Italian flag on display in Rome. Photo: Reuters/Guglielmo Mangiapane.

An American Jewish couple visiting Venice was violently attacked and robbed by three unidentified suspects, prompting authorities to investigate if the crime was fueled by religious hatred or a random act of violence.

According to initial Italian reports, the two Orthodox Jewish tourists were sprayed with water while one of the attackers used a dog on a leash to intimidate them. As they were distracted, another assailant grabbed their cell phones, and they fled the scene.

This latest incident near the Rialto Bridge, one of the busiest areas in the city, was reported by the local Jewish community and is now under investigation by Italian police.

Authorities say it is unclear whether the attack was motivated by antisemitism, robbery, or another reason, especially since the victims, who do not speak Italian, returned to the US without filing a formal complaint, according to Italian media reports.

State police are now trying to contact the two victims to get their account of the incident, while reviewing nearby surveillance footage to clarify the circumstances of the attack and identify the three suspects, who remain at large.

Even without a formal complaint, if the incident is determined to be a robbery or an antisemitic attack, authorities can pursue the case ex officio, and the investigation will continue regardless of the victims’ involvement.

The incident comes amid a surge in antisemitism and anti-Israel sentiment across Europe and around the world since the Hamas-led invasion of and massacre across southern Israel on Oct. 7, 2023.

In Italy, Jewish individuals have been facing a surge in hostility and targeted attacks, including vandalism of murals and businesses, as well as physical assaults. Community leaders warn that such incidents are becoming more frequent amid growing tensions related to the war in Gaza.

Last month, a Jewish man from France and his child were verbally assaulted at a gas station near Milan by a group of pro-Palestinian supporters who shouted antisemitic slurs after seeing the child wearing a kippah, yelling phrases such as “Free Palestine” and “murderers” as they passed by.

In a separate incident, a masked individual targeted a synagogue in Rome, spray-painting a swastika and antisemitic slogans — “Sieg Heil” (“Hail Victory”) and “Juden Raus” (“Jews Out”) — on a sign near the entrance.

In May, a restaurant in Naples forced an Israeli family to leave, telling them, “Zionists are not welcome here.”

Earlier this year, a homeless Egyptian man in Rome attacked a Jewish boy and injured a shopkeeper who tried to intervene. In a separate incident, anti-Israel protesters defaced a synagogue with graffiti reading “Justice for a Free Gaza.”

Last year, a hotel manager in Rome canceled an Israeli couple’s reservation just one day before their trip, accusing them of genocide and telling them the hotel would “be happy to grant free cancellation.”

“We inform you that the Israeli people as those responsible for genocide are not welcome customers in our structure,” the hotel manager told the Israeli couple.

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JetBlue Kosher Meal Incident Sparks Outrage Amid Rising Antisemitic Incidents on Airlines

A kosher meal served on a JetBlue flight was defaced with the slur “Zionazi,” sparking widespread outrage and prompting an ongoing investigation. Photo: Screenshot

A Jewish passenger aboard a JetBlue flight was reportedly served a kosher meal labeled with the slur “Zionazi,” sparking widespread outrage as the latest in a wave of recent antisemitic incidents across multiple airlines.

The incident was first reported by the US-based group StopAntisemitism, which published an image of the defaced meal on social media.

“Whoever is responsible for this must be immediately fired,” the statement read. “This is 1941 and Jews will NOT put up with this hate.”

In a press release, JetBlue confirmed it has launched an ongoing investigation to determine which flight was involved, emphasizing that no complaints or reports have been filed by customers so far.

“We have zero tolerance for hate, bias, or discrimination,” the statement read. “If we determine that any individual associated with JetBlue or our catering partners was involved, we will take swift and appropriate action.”

This latest incident came after a similar report days earlier on an Iberia Airlines flight from Buenos Aires to Madrid, where a Jewish passenger found “Free Palestine” written on their kosher meal tray, prompting the Spanish airline to launch an investigation.

“Iberia is conducting a comprehensive investigation, involving both its internal teams and external catering suppliers, to fully understand the incident and implement all necessary corrective actions,” the airline told The Algemeiner.

“We unequivocally condemn all forms of discrimination, hate speech, and any behavior that violates the dignity of individuals,” the statement said. “These actions are completely unacceptable and contradict the core values of respect and inclusion that define our company’s identity.”

In a separate incident, Spanish airline Vueling faced backlash after forcibly removing a group of French Jewish teenagers from a flight from Valencia to Paris, allegedly for singing in Hebrew.

The forced removal of the group has triggered political outrage in France, after their group leader was handcuffed by Spanish police and a government minister insulted the teens as “Israeli brats.”

The Spanish low-cost airline denied the allegations, insisting the incident was not related to religion but rather that the group was removed because of its members’ “highly combative attitude that was putting the safety of the flight at risk.”

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‘This Is Outrageous’: Netanyahu Repeats Threat to Sue NYT for Defamation Over Skeletal Child Photo

The New York Times newspaper. Photo: Wikimedia Commons.

Israeli Prime Minister Benjamin Netanyahu on Sunday repeated his interest in filing a lawsuit against The New York Times, following the newspaper’s misleading use of a photo depicting an emaciated Palestinian child in Gaza.

In a press conference, Netanyahu noted the historical pattern of Jewish demonization before mass violence, including through Medieval blood libels which crescendoed with the Holocaust.

“Today the Jewish state is being maligned in a similar way,” Netanyahu said. “And the international press has bought hook, line, and sinker Hamas statistics, Hamas claims, Hamas forgeries, and Hamas photographs. For example, these three children.” He pointed to a screen which featured images of tiny, skeletal bodies, allegedly the result of an Israel-enabled famine in pursuit of a genocide against the Palestinian people.

Netanyahu identified the first one as Osama Al-Rakab and said, “He is in Italy getting treatment because Israel got him out. That’s what he looks like today. He has a genetic disease that damages the lung and digestive system and makes it hard to absorb nutrients and gain weight. So Israel facilitated Osama’s travel to Italy where he got the medical aid that transformed his position.”

Continuing explaining the stories behind the photographs, Netanyahu named the second child featured, Abdul Qader al-Fayoumi, and said, “He suffers from a genetic neurological disorder, spinal muscular atrophy, a degenerative condition that causes muscle wasting, weakness, and severe weight loss. Unrelated to nutrition, this was the real cause of his frail appearance, not starvation. In fact, he was treated in Israel in 2018, but it doesn’t help because it’s a congenital disease and it defies most treatment.”

Gesturing to the screen again toward a logo of The New York Times, Netanyahu said, “The third one is the most celebrated one. This is a New York Times cover photo on the front page of Mohammed Zakaria Ayoub and his mother.”

The image appeared in the July 30 article “Young, Old and Sick Starve to Death in Gaza: ‘There Is Nothing.’” After the initial story went viral, The Times had to add an editors’ note revealing that the 18-month-old boy maintained pre-existing health issues that contributed to his current condition.

The prime minister explained that the child “is suffering from a genetic illness you’re familiar with. It’s called cerebral palsy. His mother is well-fed and his brother is healthy.”

Netanyahu walked back to the podium and said, “I’m looking right now into the possibility of a governmental suit against the New York Times because this is outrageous.” He held up his fingers to indicate a tiny square and added, “Of course a correction was postage size, I don’t know where it was buried. But this is outrageous; these are the three most celebrated photos, and they’re all fake.”

Israel’s prime minister then returned to his introductory point about medieval blood libels, saying, “It’s the kind of malignant lies that were leveled at the Jewish people in the Middle Ages, and we won’t suffer, we won’t allow it to go unchallenged, and this is the purpose of this press conference. I hope you will open your eyes to a simple fact: Hamas lies.”

Netanyahu had previously declared his support for filing a lawsuit against the New York Times in a Thursday interview with Bill Hemmer on Fox News.

“I’m actually looking at whether a country can sue The New York Times,” Netanyahu said. “And I’m looking into it right now, because I think it’s such a … it’s such clear defamation.”

Referencing Ayoub, Netanyahu told Hemmer that the image was “supposed to then represent all these supposedly starving children” but that “they put in this picture of a child who has cerebral palsy.”

In a statement to Fox News, a spokesperson for the Times pushed back against Netanyahu’s threats of a lawsuit, saying, “Children in Gaza are malnourished and starving, as New York Times reporters and others have documented. Mr. Netanyahu is referring to an update we made to a story about how the food crisis is affecting the civilian population. After publication, we learned that a child shown in that story — in addition to being severely malnourished — also had pre-existing health problems. That additional information gave readers a greater understanding of his situation.”

The spokesperson added that “attempts to threaten independent media providing vital information and accountability to the public are unfortunately an increasingly common playbook, but journalists continue to report from Gaza for The Times, bravely, sensitively, and at personal risk, so that readers can see firsthand the consequences of the war.”

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