Shipping giant Maersk warns of Suez Canal risks as Houthi attacks disrupt Red Sea routes

Yemen's Houthi militants have been attacking ships in the Red Sea for nearly a year, disrupting international shipping routes. A major shipping company, A.P. Moller-Maersk, now expects Suez Canal routes to remain unsafe until 2025 due to these ongoing threats. The Houthi attacks have forced companies to take longer shipping routes, affecting freight rates and causing congestion at ports in Europe and Asia. Despite this, Maersk reported strong demand in the third quarter, particularly from China and Southeast Asia. Recently, the Houthis targeted a Liberian-flagged bulk carrier in the Bab el-Mandeb Strait, claiming responsibility for the attack. The ship escaped without damage, but the Houthis have attacked over 90 vessels since the Israel-Hamas conflict began in October 2023.