Houthi attacks turn back the clock for shipping as costs pile up

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Economic Times Logo Economic Times 3d ago

Houthi attacks turn back the clock for shipping as costs pile up - Economic Times

Quick Summary:

To get from Asia to Europe and back, global shipping companies have for decades sailed through the Red Sea and the Suez Canal.

But a year ago, the Houthi insurgents in Yemen began targeting vessels in the Red Sea with drones and missiles, forcing shipping companies to divert their cargo around the Cape of Good Hope at Africa's southern tip, a route that is some 3,500 nautical miles and 10 days longer.

Kammann, captain of the 1,309-foot-long Hanoi Express for Hapag-Lloyd, a German shipping company, said his vessel did not stop at a port for as long as six weeks on the route around Africa.