Middle East Conflict Escalates as Houthi Forces Attack Saudi Airport

On October 8 that, according to Jin10 Data, the situation in the Middle East has escalated sharply in recent days. The Houthis launched missile strikes targeting multiple sites, including Aden International Airport in Yemen and King Khalid Airport in Saudi Arabia, with the Saudi Civil Aviation Authority reporting three deaths and 36 injuries. Meanwhile, Iran's president publicly declared that the country is currently in a state of "total war," claiming its weapons production capacity has reached 2.5 times its pre-conflict levels. At the same time, an advisor to the Islamic Revolutionary Guard Corps warned that the Strait of Hormuz will be blocked soon.

The geopolitical conflict has directly impacted the global shipping market. Qatar has assembled 12 empty LNG carriers to meet demand as exports through the strait resume, while the UK Maritime Trade Operations office reported that a tanker was hit by artillery fire near Qatari waters. Affected by disrupted routes, VLCC freight rates have surged to $77 million. Furthermore, US-Iran mediation efforts have stalled, with Iran's foreign minister stating that conditions related to its nuclear program have been handed over to the mediators.