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The resulting delays and extra costs for shipping companies have fueled concerns that consumers, still struggling after a prolonged spell of rampant inflation, could be hit with fresh price rises.
Further Red Sea disruptions would pile pressure on a struggling Chinese economy already contending with a property crisis, weak consumer demand, a shrinking population and sluggish global growth.
Experts agree that in theory, the Red Sea crisis could certainly cause shipping costs and oil prices to soar, leading to a resurgence in global inflation that would force the Federal Reserve to ...
Red Sea crisis Part of the Iran–Israel proxy conflict, the Middle Eastern crisis (2023–present), and the Yemeni crisis Map of Houthi activity near the Yemeni coast: Houthi-controlled Yemen (SPC) Government of Yemen (PLC) Houthi attacks (red) and hijackings (blue) Date 19 October 2023 – present (1 year, 2 months and 2 weeks) Location Red Sea, Gulf of Aden (esp. Bab-el-Mandeb), Arabian Sea ...
The U.S., along with Maersk security personnel aboard the ship, repelled the attack. The U.S. sank three Houthi vessels, killing ten Houthis. Maersk announced a 48-hour pause on shipping through the Red Sea following the incident. [1] On January 2 Maersk announced a halt on shipping through the Red Sea due to Houthi attacks. [2]
Maersk has imposed a 48-hour delay on its vessels moving through the Red Sea, following an attack on one of its merchant ships by Iranian-backed Houthi fighters based in Yemen.
The operation aims to ensure both the freedom of navigation and the safety of maritime traffic in the Red Sea, Bab al-Mandeb and Gulf of Aden. [1] Following the start of the 2023 Israel–Hamas war, multiple civilian container and freight ships were attacked and hijacked in the Gulf of Aden by Houthi forces. [28]
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