More big shipping companies suspend Red Sea operations as fears build over global supply chains amid increasing Houthi rebel attacks

• More shipping companies have announced they will suspend journeys through the Red Sea.
• Yemen's Houthi rebels are escalating attacks and have threatened to target ships headed for Israel.

Escalating Houthi rebel attacks on merchant ships in the Red Sea are increasing fears that global supply chains could be severely disrupted.

The world's largest shipping group, the Mediterranean Shipping Company (MSC), announced they were suspending operations in the Red Sea until further notice due to an increased risk of attacks.

The Danish shipping giant Maersk, German company Hapag-Lloyd, and French company CMA CGM have also suspended Red Sea transits.

Fears have mounted as Iran-backed Houthi rebels from Yemen have stepped up their assaults on ships, targeting foreign-owned vessels with drones and missiles.

In waters off the coast of Yemen, Western warships and allies have repeatedly shot down Houthi attack drones and missiles launched by the rebels at Israel and ships.

On Saturday, the US and UK said that they had shot down another 15 attack drones from Yemen's Houthis over the Red Sea.

Nicholas Brumfield, a Middle East politics researcher who focuses on Yemen and maritime security, wrote in a report for the think tank the Foreign Policy Research Institute that the Houthi rebels were "driven by domestic political calculations in Yemen, regional cooperation with Iran and an ideological disposition against Israel."

He added that the "attacks are unlikely to cease, and may in fact escalate further, so long as Israel's campaign continues."

UK Defence Secretary Grant Shapps said in a statement on the increasing attacks that they represented "a direct threat to international commerce and maritime security in the Red Sea."

"The UK remains committed to repelling these attacks to protect the free flow of global trade," he added.

The Red Sea is one of the world's most important shipping routes for oil and gas.

But at its narrow southern end, commercial ships must pass through the Bab el-Mandeb Strait and along the coast of Yemen.

The ongoing attacks have led to concerns that shipments of oil, grain, and consumer goods could be delayed by weeks, while shipping companies are also faced with soaring insurance costs.

David Osler, an insurance editor for Lloyd's List Intelligence, told The Associated Press that insurance costs had doubled for vessels passing through the Red Sea, and that the most expensive ships could have to pay hundreds of thousands of dollars more per journey.