Houthi Attacks Disrupt Global Trade as Ships Avoid Red Sea

Rerouting around the Suez Canal could add weeks to delivery times and significantly increase shipping costs.

Houthi militants in Yemen are launching attacks on ships passing through the Red Sea, causing major shipping companies to reroute their vessels and avoid the Suez Canal.
The Suez Canal, one of the world's busiest trade routes, carries around 12% of global trade. The rerouting of ships could add up to a month to delivery times and significantly increase shipping costs.
Major shipping companies, including Maersk, BP, and Hapag-Lloyd, have halted operations in the Red Sea. Over 100 ships have been rerouted, adding thousands of miles and weeks of travel time to their journeys.
The attacks are in response to Israel's war with Hamas in the Gaza Strip. The Houthis have threatened to target all vessels heading toward Israel, regardless of whether they are Israeli-owned or operated.
The U.S. is forming a 10-nation coalition to address the security threats in the Red Sea. However, the coalition has not yet deterred the Houthi attacks.