Germany’s Hapag-Lloyd and Hong Kong’s OOCL have announced that they will avoid the Red Sea due to attacks by Yemen’s Houthi group on vessels. These attacks have disrupted global trade and led to the establishment of a naval task force.
The Suez Canal, which handles 12% of worldwide trade, has been affected by these hostilities. Global logistics executives have warned that sending ships on alternate routes could cause disruptions in global supply chains.
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