Houthi Attacks in Red Sea Disrupt Global Supply Chains, Threaten Ikea and Abercrombie & Fitch
Swedish furniture maker Ikea has warned of potential delays and shortages of certain products due to increased attacks by Iranian-backed Houthi rebels on ships using the Suez Canal. Major shipping companies have already paused container shipments through the area, prompting Ikea to seek alternative routes for its cargo vessels. The attacks, aimed at disrupting ships bound for Israel, have led to diversions and increased costs for shipping companies, with industry analysts predicting compounded delays and higher expenses in the coming weeks. The Red Sea route is crucial for global trade, particularly for the transport of oil, grain, and consumer goods from east Asia.