BREAKING NEWS
RED SEA ATTACKS THREATEN TO CUT GLOBAL SHIPPING CAPACITY 20%
20%.
Supply chains…
— Gold Telegraph ⚡ (@GoldTelegraph_) December 23, 2023
“NEW YORK — The series of ship attacks by Iran-backed Houthi rebels in the Red Sea could curtail global shipping capacity by 20%, according to experts, in a fresh blow to supply chains that could reignite inflationary pressures.
At least 121 containerships are already taking longer routes to avoid the Suez Canal and the Red Sea, where the Houthis have been stepping up attacks with drones and missiles since the start of the Israel-Hamas war.
Containerships account for 30% of cargo shipments, and $1 trillion worth of freight is carried by those vessels every year. An estimated 10% of the volume passes through the Suez Canal.”
https://asia.nikkei.com/Spotlight/Supply-Chain/Red-Sea-attacks-threaten-to-cut-global-shipping-capacity-20
Last week: Red Sea/Suez Canal now “closed” indefinitely. And now a oil tanker has been hit by a dronebomb off the coast of INDIA. Shit is escalating!
h/t mark000