Freight companies are rerouting around the Cape of Good Hope to avoid the Suez Canal as a result of attacks on ships in the Red Sea by Houthi terrorists from Yemen who are associated with Iran. This is causing disruptions to maritime trade and motivating the United States to form a coalition to counter the threat.

Red Sea crisis raises the spectre of supply chain

The global shipping industry is grappling with a mounting crisis in the Red Sea. Following a series of attacks on commercial vessels, insurance premiums are soaring, raising concerns about the safety and economic impact on maritime trade.

Rising risk in Red Sea triggers surge in insurance premiums

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Red Sea crisis raises the spectre of supply chain

Rising risk in Red Sea triggers surge in insurance premiums