I’ve had a couple posts already in the past week about the cargo situation in the Red Sea. The latest was on Monday and included news of the US gathering in the area with allies to possibly take a shot at these Houthis.
CHART OF THE DAY: Currently, 5 out of 4 largest container shipping companies are turning away their vessels from the Red Sea due to attacks from the Houthis from Yemen, accounting for >50% of the world’s capacity (measured by TEU containers). https://t.co/TiwfUc4KSY pic.twitter.com/O9iaphSOm1
— Javier Blas (@JavierBlas) December 18, 2023
Couldn’t happen a minute too soon for the global economy. The stress is already impacting the shipping industry.
Aside note about who should be do ‘something’ about Houthis of Yemen. Look at the nationality of the container shipping companies that have stopped using the Red Sea:
MSC 🇨🇭🇮🇹
Maersk 🇩🇰
CMA CGM…
