The UN Security Council on Wednesday demanded Yemen's Houthis immediately end attacks on ships in the Red Sea.
"The threat to navigational rights and freedoms in the Red Sea is a global challenge that necessitates a global response," US Ambassador Linda Thomas-Greenfield said.
Shapps warned that “The Houthis will bear (the) responsibility of the consequences should they ignore these warnings.”
"We haven't really seen the interruption to tanker traffic that everyone was expecting," said Michelle Wiese Bockmann, a shipping analyst at Lloyd's List.
Trucknet, an Israeli company, created a land bridge that offers a faster and currently safer alternative for cargo to cross from the Gulf into the Mediterranean.
Reactions from shipping companies indicate that the majority are rerouting away from the Red Sea.
The Houthis warned that the US 'bears the consequences' of the deaths of the ten militants.
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