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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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DoD-More Than 20 Nations In Red Sea Shipping Op; But France Pulls Out
On 21 Dec, the US Department of Defense confirmedthat 'more than 20 nations' have now signed up to the 'Operation Prosperity Guardian' intended to ensure the safety of shipping in and around the Red Sea. However, the operation does seem to be showing some signs of strain, as Reuters notes "... the new Pentagon total would suggest that at least eight of the countries who have signed up have also declined to be publicly named, in a sign of political sensitivities of the operation as regional tensions soar over the Israel-Hamas war."
- Dr Salvatore Mercogliano, who runs the well-renowned 'What is Going on With Shipping?' channel posts on X: "It appears that France is withdrawing from Op Prosperity Guardian and will be conducting their own escort operation. They are making overtures to other European Union nations to escort EU-owned vessels through the Bab el-Mandeb against the Houthi. The delays in the implementation of the operation seem to be the issue. With US-flagged vessels stuck in the Red Sea and Gulf of Aden, it does appear that there are issues in its implementation across [US military] department lines. This does not bode well that the Houthi can disrupt 15% of the world's trade and there is no means to escort ships by the US Navy."
- The Iranian-backed Houthi rebels in Yemen have stated that their attacks will continue to hit shipping in the region until Israel halts is military operations in Gaza.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.