RSS
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.
RSS
After False Dawns, Gazans Hope Trump Will Force End to Two-Year-Old War
Palestinians walk past a residential building destroyed in previous Israeli strikes, after Hamas agreed to release hostages and accept some other terms in a US plan to end the war, in Nuseirat, central Gaza Strip October 4, 2025. Photo: REUTERS/Mahmoud Issa
Exhausted Palestinians in Gaza clung to hopes on Saturday that US President Donald Trump would keep up pressure on Israel to end a two-year-old war that has killed tens of thousands and displaced the entire population of more than two million.
Hamas’ declaration that it was ready to hand over hostages and accept some terms of Trump’s plan to end the conflict while calling for more talks on several key issues was greeted with relief in the enclave, where most homes are now in ruins.
“It’s happy news, it saves those who are still alive,” said 32-year-old Saoud Qarneyta, reacting to Hamas’ response and Trump’s intervention. “This is enough. Houses have been damaged, everything has been damaged, what is left? Nothing.”
GAZAN RESIDENT HOPES ‘WE WILL BE DONE WITH WARS’
Ismail Zayda, 40, a father of three, displaced from a suburb in northern Gaza City where Israel launched a full-scale ground operation last month, said: “We want President Trump to keep pushing for an end to the war, if this chance is lost, it means that Gaza City will be destroyed by Israel and we might not survive.
“Enough, two years of bombardment, death and starvation. Enough,” he told Reuters on a social media chat.
“God willing this will be the last war. We will hopefully be done with the wars,” said 59-year-old Ali Ahmad, speaking in one of the tented camps where most Palestinians now live.
“We urge all sides not to backtrack. Every day of delay costs lives in Gaza, it is not just time wasted, lives get wasted too,” said Tamer Al-Burai, a Gaza City businessman displaced with members of his family in central Gaza Strip.
After two previous ceasefires — one near the start of the war and another earlier this year — lasted only a few weeks, he said; “I am very optimistic this time, maybe Trump’s seeking to be remembered as a man of peace, will bring us real peace this time.”
RESIDENT WORRIES THAT NETANYAHU WILL ‘SABOTAGE’ DEAL
Some voiced hopes of returning to their homes, but the Israeli military issued a fresh warning to Gazans on Saturday to stay out of Gaza City, describing it as a “dangerous combat zone.”
Gazans have faced previous false dawns during the past two years, when Trump and others declared at several points during on-off negotiations between Hamas, Israel and Arab and US mediators that a deal was close, only for war to rage on.
“Will it happen? Can we trust Trump? Maybe we trust Trump, but will Netanyahu abide this time? He has always sabotaged everything and continued the war. I hope he ends it now,” said Aya, 31, who was displaced with her family to Deir Al-Balah in the central Gaza Strip.
She added: “Maybe there is a chance the war ends at October 7, two years after it began.”
RSS
Mass Rally in Rome on Fourth Day of Italy’s Pro-Palestinian Protests
A Pro-Palestinian demonstrator waves a Palestinian flag during a national protest for Gaza in Rome, Italy, October 4, 2025. Photo: REUTERS/Claudia Greco
Large crowds assembled in central Rome on Saturday for the fourth straight day of protests in Italy since Israel intercepted an international flotilla trying to deliver aid to Gaza, and detained its activists.
People holding banners and Palestinian flags, chanting “Free Palestine” and other slogans, filed past the Colosseum, taking part in a march that organizers hoped would attract at least 1 million people.
“I’m here with a lot of other friends because I think it is important for us all to mobilize individually,” Francesco Galtieri, a 65-year-old musician from Rome, said. “If we don’t all mobilize, then nothing will change.”
Since Israel started blocking the flotilla late on Wednesday, protests have sprung up across Europe and in other parts of the world, but in Italy they have been a daily occurrence, in multiple cities.
On Friday, unions called a general strike in support of the flotilla, with demonstrations across the country that attracted more than 2 million, according to organizers. The interior ministry estimated attendance at around 400,000.
Italy’s right-wing government has been critical of the protests, with Prime Minister Giorgia Meloni suggesting that people would skip work for Gaza just as an excuse for a longer weekend break.
On Saturday, Meloni blamed protesters for insulting graffiti that appeared on a statue of the late Pope John Paul II outside Rome’s main train station, where Pro-Palestinian groups have been holding a protest picket.
“They say they are taking to the streets for peace, but then they insult the memory of a man who was a true defender and builder of peace. A shameful act committed by people blinded by ideology,” she said in a statement.
Israel launched its Gaza offensive after Hamas terrorists staged a cross border attack on October 7, 2023, killing some 1,200 people and taking 251 people hostage.
RSS
Hamas Says It Agrees to Release All Israeli Hostages Under Trump Gaza Plan
Smoke rises during an Israeli military operation in Gaza City, as seen from the central Gaza Strip, October 2, 2025. Photo: REUTERS/Dawoud Abu Alkas
Hamas said on Friday it had agreed to release all Israeli hostages, alive or dead, under the terms of US President Donald Trump’s Gaza proposal, and signaled readiness to immediately enter mediated negotiations to discuss the details.