A Wikipedia photo of the Red Sea
Shipping giant Maersk has issued a warning about worsening disruptions in the Red Sea, which are expected to significantly reduce trade capacity from the Far East to Europe this quarter.
Container vessels have been forced to reroute around Africa’s southern tip since late last year to avoid attacks by Iranian-backed Houthi militants in the Red Sea.
This shift has led to increased transportation costs, potentially impacting consumers in the UK and Europe through price hikes.
Maersk noted an expansion of the risk zone and increased offshore attacks. Estimates suggest a 15-20% reduction in shipping capacity between the Far East and Europe from April to June.
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