Bloomberg: Container shipping in Red Sea has decreased by 90%

WORLD, June 14 (YPA) – “Bloomberg” Agency quoted US intelligence officials on Thursday, June 13, as saying that Yemeni army attacks on commercial ships in the Red Sea led to a 90% decline in container shipping through the region between December and February.

According to the Pentagon’s first official economic impact assessment, threats to Red Sea transit exacerbate ongoing pressure on global shipping caused by drought-related disruptions in the Panama Canal.

The attacks affected at least 65 countries and forced at least 29 major energy and shipping companies to change their routes, according to the agency.

Alternative shipping routes around Africa added about 11,000 nautical miles (20.4,000 km) per trip, increasing fuel costs by about $1 million per trip.

The intelligence assessment comes in light of the recent escalation of attacks, as the engine room of the cargo tanker “Tutor” was flooded with water after the first successful attack from a naval drone of the Yemeni army on Wednesday.

YPA