Updated: September 06, 2024 1. Impact on Maritime Shipping: Attacks in the Red Sea by Iran-aligned Houthi militants have disrupted a crucial trade route, leading to significant rerouting of shipments away from the Suez Canal. 2. Increased Freight Rates and Congestion: The rerouting has pushed freight rates higher and caused congestion in ports across Asia and Europe. 3. Decrease in Canal Traffic: The number of ships crossing the Suez Canal has dropped by 66% as carriers divert their vessels around Africa. 4. Strained Infrastructure: These disruptions have led to service reconfigurations and volume shifts, straining infrastructure and resulting in port congestion, delays, and shortages in capacity and equipment. 5. Global Network Impact: Maersk highlighted that the disruption extends beyond the Far East-Europe trade routes, affecting its entire global network. 6. Uncertain Timeline: The timeline for resolving these disruptions and returning to normal operations remains uncertain. 7. Ro