Despite the Operational Prosperity Guardian naval task force, Houthi attacks persist. Recent escalations involve an attack on a Maersk vessel, triggering heightened US response and UK considerations of targeting Houthi positions in Yemen. Iranian warship entry into the Red Sea and ongoing Houthi missile attacks further escalate regional tensions.
Global freight encounters disruptions as container carriers reroute away from the Suez Canal, resulting in extended lead times and potential port congestion. Freight rates surge, with Asia-N. Europe rates are up 173%, Asia-Mediterranean prices doubling, and carriers implementing surcharges ranging from $500 to $2,700 per container.