Houthi Militant Attacks on Red Sea Shipments Impact Global Supply

Horizontal Houthi - The Chemical Company

Recent attacks by Iran-backed Houthi militants on ships passing through the Red Sea are impacting global trade with immediate implications. Nearly ten shipping companies have announced changes to global shipping lanes to avoid the region, causing some lanes to take 40% longer and multiple times more expensive to handle. Countries are vowing to provide increased security in the region to minimize the attacks. In the short term, ocean freight rates out of Asia and Europe have been seen to increase significantly on new quotes over the recent days.

To read more, click here.

Share:

Facebook
Twitter
LinkedIn
Email

Related Posts

Tariff Deadline of July 9 Looms

July 9th is the “self imposed” deadline for President Trump to make final decisions surrounding the IEEPA baseline and reciprocal tariff levels. In addition, the

June Oil Price Whiplash

Crude Oil prices fluctuated as much as $15/bbl throughout the month of June, highlighted by the conflict in Iran, headlines surrounding OPEC and the US’