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Middle East: What are the economic consequences of the Houthi attacks on world trade and the Suez Canal?

The series of Houthi attacks against ships in the Red Sea since the start of the Israel/Hamas conflict has led to the disruption of traffic on the Suez Canal, directly affected by the disorders in the Bab-el-Mandeb Strait which constitutes the gateway southern entry point for ships to the Red Sea. The canal accounts for more than 10% of maritime traffic, 22% of container transport, 10% of total seaborne oil trade and 8% of global LNG trade. Around 65 ships use it on average each month.

Thursday 25 January 2024