Suez Canal Crisis: A New Catalyst for Global Inflation

The number of container ships transiting through the Red Sea towards the Suez Canal tumbled 90 per cent year-on-year through the first week of January, as attacks from Yemeni Houthi rebels continue to disrupt one of the world’s busiest trade routes. New figures from industry tracker Clarksons Research showed the collapse in traffic into the Gulf of Aden, which is used as an entry point for container ships travelling between the Suez Canal. Key shipping giants such as Maersk, MSC and Hapag-Lloyd have restricted traffic through the region…