New Delhi, India

Three days following an unmanned drone assault on a merchant vessel near Veraval and another Indian merchant ship facing an attack in the Red Sea, Prime Minister Narendra Modi engaged in a conversation with Saudi Arabia's Crown Prince Mohammad bin Salman bin Abdulaziz Al Saud. During the discussion, he conveyed his apprehensions about the situation in West Asia.

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"I held a good conversation with my brother Prince Mohammad bin Salman bin Abdulaziz Al Saud on the future of Strategic Partnership between India and Saudi Arabia. We exchanged views on West Asia situation and shared concerns regarding terrorism, violence and the loss of civilian lives. We agreed to work together for peace, security and stability in the region," said PM Modi.

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Recent drone incidents

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Just three days ago, an unmanned drone targeted the MV Chem Pluto, a merchant ship off the coast of Veraval.

This ship, carrying 21 Indian sailors and transporting oil from Saudi Arabia to Mangalore reported no casualties, but sustained damage.

Subsequently, another Indian vessel, the MV Sai Baba, faced an attack in the Red Sea a day later.

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The Houthi rebels, who control a significant portion of Yemen, have claimed responsibility for these attacks.

Their actions are linked to a demand for Israel to cease its offensive in Gaza. The geopolitical ramifications extend beyond the Middle East, impacting global trade routes.

The narrow strait between Yemen and northeast Africa, a crucial passage for approximately 40 per cent of international trade, now faces disruptions due to these attacks.

The affected route leads to the Red Sea, Israel's southern ports, and the Suez Canal, causing a pause in the operations of numerous merchant ships.

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The heightened threat has led to a surge in shipping insurance costs, skyrocketing by tens of thousands of dollars per day.

Additionally, the instability has contributed to an increase in oil prices, highlighting the broader economic consequences of these targeted maritime incidents.

(With inputs from agencies)