Red Sea attacks causing rising costs and increased shipping line rates
Global supply chain disruption in 2024 is a “possibility”, according to experts, as the world’s biggest shipping companies are re-routing their journeys to avoid the Red Sea.
The past few days have seen many companies choose not to travel via the Red Sea to the Suez Canal, following attacks on commercial vessels by Houthi rebels in Yemen in the wake of the ongoing crisis in Gaza.
Detours will add up to 10 days’ shipping times and increase companies’ costs.
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