Pentagon Launches ‘Operation Prosperity Guardian’ To Defend Red Sea Passage

A US Pentagon led naval coalition is finally coming together via Operation Prosperity Guardian to protect international shipping transit in the Red Sea and vital Bab al-Mandab Strait, per a breaking development from Politico’s chief Pentagon correspondent.

“The Pentagon is expected to announce tomorrow the formation of Operation Prosperity Guardian, a new task force to protect shipping from Houthi attacks in the Bab Al-Mandeb Strait and Red Sea, per DOD official,” writes Lara Seligman on X.

“The operation will be within the framework of the existing Combined Maritime Force 153, a partnership of 39 nations focused on counter piracy and counter terrorism in the Red Sea.”

The 20-mile-wide Bab al-Mandeb — which lies between the Horn of Africa and Gulf peninsula — connects the Red Sea to the Gulf of Aden and the Arabian Sea. It accounted for 8.8 million b/d of total oil flows in the first half of 2023, according to the US Energy Information Administration. LNG shipments through the strait were 4.1 billion cf/d during the same period, EIA data showed.

Days ago it was reported that the Pentagon was looking to cobble together the ‘broadest possible’ coalition task force, amid what’s now become daily Iran-backed Houthi attacks on commercial vessels.

The Houthis have also launched rockets and drones into southern Israel at various times, triggering US warship intercepts.

It has also emerged that Australia is expected to play a major role in Red Sea operations in the context of deepening ties with the US related to the AUKUS deal.

Freight forwarders are also increasing rates on shipments. For example, a container bound for the Middle East will now attract a war risk surcharge of $100/teu on dry and reefer cargo, according to a document seen by S&P Global.

Several carriers have begun to accrue war risk surcharges on passages through the Red Sea. Zim Integrated Shipping Services (Zim) — an Israeli carrier based in Haifa — has increased freight rates on its Asia-Mediterranean service to cover the rising costs of securing its vessels.

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