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Between Black Sea disruption and two key canals choking under the pressure of climate and war, a triple whammy of blocked arteries threatens world trade. The impacts on the wider global economy could be profound. So what happened to all that talk of supply chain resilience?
Attacks on ships in the Red Sea are delivering another shock to global trade, coming on top of pandemic-related logjams at ports and Russia's invasion of Ukraine.
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Red Sea Auto Export: Electric carmaker Tesla has to shut down its factory near Berlin from Monday to Feb. 11 because of shipment delays. The Chinese-owned Swedish car brand Volvo idled its assembly line in Ghent, Belgium, where it makes station wagons and SUVs, for three days this month while waiting for a key part for transmissions. Production at a Suzuki Motor Corp. plant in Hungary stopped for a week because of a delay in getting engines and other parts from Japan.
Attacks on ships in the Red Sea by Yemen’s Houthi rebels have unraveled a key global trade route, forcing vessels into longer and more costly journeys around Africa