Posted 1/22/2024, 10:01:21 PM
Yemen Conflict Threatens Global Shipping, Raising Costs
- Shipping rates have spiked 23% in a week amid attacks on ships in Red Sea by Yemen Houthi forces
- Disruptions are leading to longer delivery times as ships avoid the region
- Impact being felt most in Europe and China currently, not yet material impact to US
- At what point could costs spill over to impact US consumers and wholesalers buying imported goods
- While no impact to US consumers yet, risk increases the longer disruptions continue