Yemen’s Houthi rebels have escalated attacks on ships passing through the Red Sea during the Israel-Hamas war, raising concerns about the impact on the container logistics.
Industry is bracing for a 30% rise in container freight and insurance costs, and delays of around 15 days for consignments to reach Europe, with global shipping majors avoiding the Red Sea and Suez Canal.
The decision to avoid the Red Sea route was announced by AP Moller-Maersk, MSC, CMA CGM, and Hapag-Lloyd in the last few days.
