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Shanghai, China, Dec 20 (EFE).- The forced diversion of merchant ships from the Red Sea due to the imminent threat of attacks from Houthi militants off Yemen has led to a surge in freight charges after many shippers re-routed their vessels. The rising shipping costs have also affected trade between China and Europe, sparking supply …
Attacks on ships passing through a vital trading route have reignited fears about higher oil prices and could drive up inflation.
Creating extra costs and delays.
A new crisis is brewing in one of the world’s trade arteries, threatening to snarl supply chains, and push up oil prices and broader inflation at a time of slowing economic growth.
Houthi rebels in Yemen have launched missile and drone attacks on cargo ships in the Red Sea leading to the Suez Canal.