The Red Sea shipping crisis affects global supply chains
according to CCTV, Yemen's Houthi rebels attacked U.S. ships in the Red Sea. The tension in the Red Sea situation has further intensified, leading some shipping companies to choose the longer and more expensive route of bypassing the Cape of Good Hope in Africa. According to Flexport data, container capacity fell 20% month-on-month in December after changing the route, and freight costs are expected to rise by 15% to 20%. If the situation in the Red Sea continues to be tense, it may lead to an increase in prices of various commodities such as oil, clothing, and food.
