Companies are hesitant to resume using the Red Sea trade route due to ongoing attacks by Yemen's Houthis on shipping. The Houthis have carried out over 100 attacks on ships since November 2023, disrupting global shipping and prompting route changes. Executives from shipping, insurance, and retail industries state that the risks are too high to resume voyages through the Bab al-Mandab strait in the Red Sea. The attacks have led to increased war risk insurance premiums and altered trade routes, adding extra days and costs for shipments.
image sourced from original article at https://www.dailymail.co.uk/wires/reuters/article-14296827/Red-Sea-trade-route-remain-risky-Gaza-ceasefire-deal-industry-executives-say.htmlOriginal article source: https://www.dailymail.co.uk/wires/reuters/article-14296827/Red-Sea-trade-route-remain-risky-Gaza-ceasefire-deal-industry-executives-say.html
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