Shell hits pause on Red Sea shipments: Global oil giant Shell has suspended shipments through the Red Sea indefinitely amid fears of further escalations in the waterway after the US and UK launched air strikes on Houthi facilities across Yemen on Friday, the Wall Street Journal reports. Japanese shipping giant Mitsui OSK Lines also paused transit through the waterway, Bloomberg reports. The two companies are the latest in a growing number of shipping and oil firms to halt shipments after the Houthis started targeting commercial vessels..

Another ship struck in the waterway: Greek-owned bulk carrier Zografia was hit by a missileabout 122 kilometers northwest of the Yemeni port of Al Saleef en route from Vietnam to Israel, Reuters reports. There were no injuries and the vessel was empty of cargo. The Houthis appear undeterred, as their attack on the vessel was preceded by US strikes targeting Houthis missiles while being prepared earlier during the day, according to the Washington Post. The attack also came a day after the Houthis targeted a US commercial vessel with an anti-ship ballistic missile.

Consumers will start feeling the impact of it all: Shipping disruptions in the Red Sea areexpected to elevate the prices of consumer goods and derail the Fed’s timeline of when it hopes to cut rates, sources told Reuters. “The cost of goods into Europe from Asia will be significantly higher ... It will hit developed economies more than it will hit developing economies,” DP World CFO Yuvraj Narayan told the newswire, adding that he expects the disruptions to heavily hit European imports.

BUT- some vessels remain unfazed by Red Sea escalations: A large number of commercial vessels are pressing ahead with the Red Sea route despite the US and UK navies advising against it, according to data compiled by Bloomberg. Some 114 vessels continued their course along the waterway, down only 17 from a week ago.

Qatari LNG shipments included: Four Qatari vessels carrying liquified natural gas haveresumed their course along the Red Sea after several days’ pause triggered by the recent US and UK strikes in Yemen, according to shipping tracking data cited in Reuters.

By the numbers: Different carriers have been differently impacted by the current tension in thewaterway — the number of gas carriers has dropped by 96% from last month, followed by container ships with a 80% m-o-m dip, oil tankers (55%), and bulk carriers (25%).

Yemen isn’t intimidated by the US’ task force: The US-led maritime task force — dubbedOperation Prosperity Guardian — aiming to ensure safe passage of vessels through the Red Sea, is weak due to lack of regional participation from Saudi Arabia, the UAE, and Egypt, Yemeni Vice President Aidarous Al Zubaidi told Reuters yesterday.

The EU wants to launch its own naval mission: The EU’s Political and Security Committee has given its initial support to another naval mission aimed at protecting vessels in the Red Sea, after some European countries voiced concerns about Operation Prosperity Guardian and reluctance to operate under US leadership, Reuters reports. Foreign ministers will meet on 22 January to discuss the mission, which the EU is looking to set up by 19 Feb.

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