SHIPPING through a critical red Sea route has dropped to its lowest level since attacks by Iran-backed Houthi rebels began, raising concerns about inflation, reports London's Daily Telegraph.
According to Lloyd's List Intelligence data, only 927 cargo vessels passed through the narrow shipping channel to the Red Sea in June, down from 978 in May.
This is the lowest number since the Houthi attacks escalated in November.
Year-on-year transits fell 59 per cent, compared to a 42 per cent drop in January, as the Houthis entered a 'fourth phase' of assaults with longer-range missiles and bigger warheads.
Lloyd's List Intelligence warned that this decline ends a 12-week period of stabilization when traffic had begun to recover.
The tightening of global trade routes could lead to new supply chain issues, increasing shipping costs and consumer prices.
Thousands of ships transporting goods between Asia and Europe have rerouted around the Cape of Good Hope since the Houthi attacks began last autumn in response to Israel's war with Hamas.
SeaNews Turkey
According to Lloyd's List Intelligence data, only 927 cargo vessels passed through the narrow shipping channel to the Red Sea in June, down from 978 in May.
This is the lowest number since the Houthi attacks escalated in November.
Year-on-year transits fell 59 per cent, compared to a 42 per cent drop in January, as the Houthis entered a 'fourth phase' of assaults with longer-range missiles and bigger warheads.
Lloyd's List Intelligence warned that this decline ends a 12-week period of stabilization when traffic had begun to recover.
The tightening of global trade routes could lead to new supply chain issues, increasing shipping costs and consumer prices.
Thousands of ships transporting goods between Asia and Europe have rerouted around the Cape of Good Hope since the Houthi attacks began last autumn in response to Israel's war with Hamas.
SeaNews Turkey
