ATTACKS on shipping by Iran-backed Houthi forces in the red Sea could curtail global shipping capacity 20 per cent, according to experts, reports Nikkei Asia.
At least 121 containerships are already taking longer routes to avoid the Suez Canal and the Red Sea, where the Houthis have been stepping up attacks with drones and missiles since the start of the Israel-Hamas war.
Containerships account for 30 per cent of cargo shipments, and US$1 trillion worth of freight is carried by those vessels every year. An estimated 10 per cent of the volume passes through the Suez Canal.
Using the shipping database maintained by the London Stock Exchange Group (LSEG), Nikkei has mapped the recent movements of large ships that have docked in New York and Savannah, Georgia.
About 300 ships have called at these two ports this month. A look at the ships' positions shows a large number of them taking the Cape route. Most of these vessels are containerships bound for Singapore and other destinations in eastern Asia.
Many of the ships that used the ports in New York and Savannah last month were seen headed to the Mediterranean Sea and the Red Sea as of November 30, according to the LSEG data. Ships bound for East Asia in particular took the shortest route by passing through the Suez Canal and the Red Sea.
Compared to routes through the Suez, the trip between Asia and Europe around the Cape will add an extra three to four weeks, according to the Swiss firm.
SeaNews Turkey
At least 121 containerships are already taking longer routes to avoid the Suez Canal and the Red Sea, where the Houthis have been stepping up attacks with drones and missiles since the start of the Israel-Hamas war.
Containerships account for 30 per cent of cargo shipments, and US$1 trillion worth of freight is carried by those vessels every year. An estimated 10 per cent of the volume passes through the Suez Canal.
Using the shipping database maintained by the London Stock Exchange Group (LSEG), Nikkei has mapped the recent movements of large ships that have docked in New York and Savannah, Georgia.
About 300 ships have called at these two ports this month. A look at the ships' positions shows a large number of them taking the Cape route. Most of these vessels are containerships bound for Singapore and other destinations in eastern Asia.
Many of the ships that used the ports in New York and Savannah last month were seen headed to the Mediterranean Sea and the Red Sea as of November 30, according to the LSEG data. Ships bound for East Asia in particular took the shortest route by passing through the Suez Canal and the Red Sea.
Compared to routes through the Suez, the trip between Asia and Europe around the Cape will add an extra three to four weeks, according to the Swiss firm.
SeaNews Turkey