Escalating Houthi Attacks Force Container Ships to Seek Alternative Routes

Over 100 container ships have been rerouted from the Suez Canal to avoid attacks by Houthi rebels off the coast of Yemen, causing disruption to global trade. The diversions add significant time and distance to shipping routes, potentially delaying product deliveries by three to four weeks. The Houthi rebels, aligned with Iran, have targeted vessels in response to Israel's bombardment of Gaza. The US plans to lead a naval coalition to protect shipping in the Suez Canal. The disruption has led to higher oil prices and could eventually impact consumer energy tariffs and supply chains. While the retail industry is not expected to be affected this Christmas, extended disruptions could lead to shortages of products and parts for manufacturers.