The collateral effects of the war are beginning to be felt in global trade. Major shipping companies announced that they will halt the flow of their ships through the Red Sea following the escalation of attacks.
The Bab al-Mandab Strait, linking the Red Sea (to the north) with the Gulf of Aden (to the south) in the Indian Ocean, has once again become the scene of attacks on container ships. For this reason, the world’s largest maritime companies announced that they will stop using the Suez Canal, forcing ships from Asia to circumnavigate Africa, adding time and costs to international logistics for goods.
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Major shipping companies around the world suspend operations in the Red Sea