Source - Economic Times Image Source - Pinterest
Red sea speeds up cargo travel between the Indian Ocean and Mediterranean, shortens the Asia-Europe route
Shipping Companies steer clear of the Red Sea due to Houthi attacks, disrupting global trade
Houthis, target ships in Bab al-Mandab(Red Sea), blaming Israel's Gaza Conflict; Yemen Tensions Escalate
Hostilities grip Suez Canal, disrupting 12% of global trade.
Hapag-Lloyd reroutes 25 ships to avoid Red Sea and Suez - Impacting shipping rates and stocks with a longer Africa route
Sends frigate to aid U.S. coalition, securing Red Sea shipping, since they control 20% of global vessels
Rerouting Spells Higher Costs and Extended Delivery Times for Shipping
Oil and Gas Prices Surge, Igniting Concerns - Impacting Global Markets
Longer Travel Times and Higher Charges Could Inflate Global Economy, Urgency for Swift Resolution