it happened late on tuesday and is the latest in a series of attacks which are prompting major shipping lines to take alternative, longer routes. the international chamber of shipping says that one in five commercial vessels and ships are now avoiding the red sea, which accounts for 12% of global trade. it s led to a near doubling in the cost of container shipping. the attackers say they ll continue to target vessels until palestinians in gaza are allowed sufficient food and medicine. michelle bockmann is principal analyst at the maritime analysts lloyd s list intelligence. thank you for being with us today, michelle. there have been multiple efforts to try and neutralise the threat from these houthi rebels to ships in the area. these latest attacks suggest they are failing. good afternoon. it certainly seems that way at the moment. the us coalition of military support that is meant to be helping that transit through the red sea to the suez canal seems to have failed to deter
thank you very much. we start with the shipping crisis in the red sea. yemen s houthi militant group has claimed responsibility for yet another attack on a container vessel, this one belonging to the french shipping line cma cgm. it happened late on tuesday despite the presence of the us navy in the area and it s the latest in a series of attacks which are prompting major shipping lines to take alternative, longer routes. the international chamber of shipping says that one in five commercial vessels are now ships are now avoiding the red sea, which accounts for 12% of global trade. it s led to a near doubling in the cost of container shipping. the attackers say they ll continue to target vessels until palestinians in gaza are allowed sufficient food and medicine. ami daniel is the chief executive of the martime intelligence and analytics firm windward, among other things, they help companies reduce risks at sea. thank you for being with us today. one in five ships choosing
japanese officials say at least 48 people have died and many others are trapped beneath rubble, after a powerful earthquake. ukraine suffers another intense night of russian bombardment, leaving at least five people dead. ukraine s air defence claims 35 drones were shot down. time for a look at the business news now. tesla, the elon musk controlled car maker which pioneered mass market electric vehicles, has been relegated to second position in the global league of electric car makers. its chinese rival, byd has reported that it sold 526,000 cars in the final quarter of last year compared to 480,000 for tesla making it the world s number one electric car brand for now at least. erin delmore is in new york for us. byd said it is the biggest car brand you have never heard of in a recent advert i saw, but we are hearing more about them and other chinese electric vehicle makers who are shaking up the market. it is true. this news might shaking up the market. it is true. this
the german shipping line hapag lloyd has said in the last couple of hours that it will continue to avoid the area for at least another week. it made the decision after another ship belonging to its rival maersk was attacked over the weekend. in that attack, houthi rebels based in yemen hit the ship with a missile and tried to climb aboard before the us navy intervened and sank the rebels four boats killing the crew in the process. the us military says there have been at least 23 attacks since mid november on a route that acconts for about 12% of global trade and which is now being avoided by several of the world s biggest shipping companies. let s unpack the latest on this with peter sand, chief analyst at the shipping analytics platform xeneta. thanks forjoining us. does this latest development suggests tha things are getting worse rather than better? you are hitting the nail on the head. we can see that from the direct developments on the platform where an essential
israel to change its tactics inside gaza to protect civilians and get the remaining hostages out. u.s. defense secretary lloyd austin touching down in qatar today as officials desperately try to hammer out a deal. plus, dual natural disasters across the globe. in iceland, lava spewing out of a volcano in what experts say is one of the worst possible locations for an eruption. in china, a devastating earthquake killing more than 100 people. and wild weather complicating life in the u.s. after a massive storm knocking out power to more than half a million people in the northeast. a final good-bye for a woman who stands stall in american history. president biden will be among those offering tributes at justice sandra day o connor s funeral in just under an hour. it is a busy tuesday. thank you for joining us. i m ana cabrera reporting from new york. we begin in gaza, where israeli forces say they have been engaged in intense fighting this morning. and have killed a promine