Global Shipping Disruptions Escalate Costs and Delays

Attacks in the Red Sea by Houthi rebels have led to significant rerouting of maritime traffic, causing widespread delays and a surge in shipping costs.

Houthi rebel attacks in the Red Sea have forced major shipping companies to divert routes, significantly impacting global trade.
The slowdown in maritime traffic through the Suez Canal, compounded by a severe drought affecting the Panama Canal, is exacerbating supply chain challenges.
Consumer goods such as furniture, apparel, and appliances from Asia to the West are among the most affected, with prices expected to rise.
The crisis is putting additional pressure on European markets, though the effects are felt globally, with increased shipping costs and potential inflation risks.
Italian luxury home goods and UK manufacturing sectors are bracing for impacts on production and costs due to the disruptions.