Recent missile strikes in the Red Sea have affected the global supply chain, particularly in ocean freight shipping.
The US and UK military carried out these strikes in response to Houthi militia attacks on merchant ships, numbering 27 incidents since 19th November.
Peter Sand, Chief Analyst from Xeneta, a shipping intelligence platform, noted potential short-term disruptions and increased costs due to these events.
The attacks prompted shipping vessels to change routes, adding complexity to the delivery process.
This is expected to result in a significant rise in ocean freight shipping rates, with data from Xeneta suggesting possible increases of up to 200% since mid-December in the coming week.
Such cost surges may impact the broader global supply chain, causing potential delays and higher consumer prices.
