Red Sea Attacks Disrupt Supply Chain, Threaten Shipping Container Shortage

The Houthi rebel attacks in the Red Sea are causing significant disruptions to global shipping, surpassing the early Covid-19 pandemic impact on the supply chain, according to maritime advisory firm Sea-Intelligence. Vessel capacity has dropped significantly as ships divert from the Red Sea, leading to delays in container pickups at ports. The disruptions are also affecting energy markets and product tanker operators, with companies like Shell and BP suspending shipments through the Red Sea. The situation is expected to persist for several months, prompting concerns about extended disruptions and supply shortages.