Geopolitical tensions disrupt maritime trade

The ongoing Israel-Hamas war has led to disruptions in global maritime trade. Ships are now boycotting the Suez Canal, a critical route for international trade. Attacks by Houthi rebels in Yemen on ships passing through the Red Sea have raised concerns for freight companies. As a result, ships are exploring alternative routes that involve sailing around the Cape of Good Hope, which adds an additional two weeks to the journey. This increase in travel time and the need for additional security measures and resources are expected to lead to higher costs for freight companies, potentially impacting prices for consumers.