As has been widely reported, Houthi rebel attacks on container ships navigating the Red Sea, en route from Asia and the Pacific to the Suez Canal, and onward to ports in Europe and the USA,are causing shipping lines to re-route and take the much longer journey around the Cape of Good Hope. The extra voyage time adds between two and three weeks for ports in the UK, Europe and the USA.
This is already seeing shipping rates rise – having only relatively recently settled to pre-Covid levels as well as adding extra impetus to the drive to near-shore supply chains wherever feasible.
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