ALERT IN THE MARITIME WORLD

The blockade of the sea route between Asia and northern Europe in the Red Sea region by Houthi guerrillas from Yemen has entered its third month, causing turmoil and unforeseen expenses for the foreign trade sector.
After being forced to abandon the shortest route, via the Suez Canal, and divert to another that goes around southern Africa - adding 10 days to two weeks to each trip, in addition to 6,400 kilometers, shipping companies had to increase the number of ships on long routes, generating more costs,
and now face congestion when docking at ports in Asia and Europe.

Since November 19, Iran-backed Houthi rebels have carried out around 80 incidents, including more than 30 drone and missile attacks on commercial ships and vessels in the Red Sea region.

The shortest route between Asia and Europe, which carries about 12% of global trade, carries containers worth more than $1 trillion in goods annually. According to the International Monetary Fund's PortWatch platform, total transit volumes through the route fell 37% this year through Jan. 16, compared with the same period last year.

Houthi rebels say the attacks are in solidarity with Palestinians and a protest against the Israel-Hamas war that began in October. The arrival of U.S. and British naval vessels in the area in January has failed to stop the attacks, although they have eased in recent weeks.

Source: Neofeed/economia