DISRUPTIONS to shipping caused by Houthis' air strike on vessels in the Red Sea have raised the cost of Asia-Europe shipping 400 per cent, according to European Economy Commissioner Paolo Gentiloni, reports Tehran's Iran Front Page.
Mr Gentiloni also said mentioned that transit times had increased by 10-15 days, as he expressed hope that the crises won't lead to a significant increase of inflation.
Yemen-based Houthi forces who have occupied the capital for nearly a decade, have carried out dozens of drone and missile attacks Israel-Hamas war in October.
As a result, many major shipping companies have stopped using the Suez Canal and are instead redirecting ships around the Cape of Good Hope in southern Africa.
The attacks have also reportedly caused average container prices to double globally in the past month, while fuel tanker rates for certain destinations have surged to their highest level in years.
Last month, eu foreign ministers reached a tentative agreement to launch a naval mission in the Red Sea to defend cargo ships. Germany, France, and Italy proposed the move in response to requests from the Netherlands, whose merchant shipping industry has been particularly impacted by the attacks.
SeaNews Turkey
Mr Gentiloni also said mentioned that transit times had increased by 10-15 days, as he expressed hope that the crises won't lead to a significant increase of inflation.
Yemen-based Houthi forces who have occupied the capital for nearly a decade, have carried out dozens of drone and missile attacks Israel-Hamas war in October.
As a result, many major shipping companies have stopped using the Suez Canal and are instead redirecting ships around the Cape of Good Hope in southern Africa.
The attacks have also reportedly caused average container prices to double globally in the past month, while fuel tanker rates for certain destinations have surged to their highest level in years.
Last month, eu foreign ministers reached a tentative agreement to launch a naval mission in the Red Sea to defend cargo ships. Germany, France, and Italy proposed the move in response to requests from the Netherlands, whose merchant shipping industry has been particularly impacted by the attacks.
SeaNews Turkey