"Red Sea Attacks Disrupt Global Trade, Pushing Up Costs and Causing Shortage of Oil Tankers"
British firms are experiencing higher shipping costs and delays of up to four weeks due to Houthi attacks in the Red Sea, with more than a third of surveyed firms affected. Rerouting shipments around Africa's Cape of Good Hope is adding extra delivery time and pushing up costs, leading to potential price increases in the UK economy. The British Chambers of Commerce is calling for government support for exporters and the formation of an exports council to promote trade, as the conflict continues to impact global trade.