Attacks on merchant vessels by Houthi militants are forcing more shipping companies to avoid the Red Sea, disrupting world trade.
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More shipping companies are set to avoid the Red Sea following attacks on Merchant vessels by houthi militants German container line hapag Lloyd is among the latest to say it will steer clear 25 of its ships will be re-rooted before the end of the year Hong Kong’s o
Is making a similar move ships will have to take longer routes to avoid the hotspot and that could Royal Supply chains worldwide the Suez Canal route accounts for about 12% of global trade costs will jump too with the price of shipping a container from China to the Mediterranean up 44% just this month
Experts say anything that is moved by sea from Toys to food and clothing could be at risk concern over disruption to supplies is driving commodity prices higher too Metals Prices rose Friday as did Benchmark oil prices crude jumped around 1% though Traders say the impact on supplies should actually be limited
Relatively little oil is shipped through the Red Sea much now depends on the international Naval task force being set up by Washington the Pentagon says over 20 countries have signed up to take part though some did not want to be named vessels from the US British and French
Navies have already shot down houy drones in the area on Thursday UK foreign minister David Cameron met his Egyptian counterpart to discuss the crisis it’s absolutely essential that those Maritime corridors that the free movement of ships of goods of manufacturers of oil of World Trade that
They keep going the crisis grew out of the war between Israel and Palestinian militant group Hamas which runs Gaza Yemen’s houthis have threatened to Target All Ships heading to Israel in response
