Half of Red Sea Container Fleet Avoids Route After Attacks
- Diversions around Africa take 25% longer than using Suez Canal
- Delays, costly insurance may raise prices on consumer goods
An MSC container ship sails southbound through the Great Bitter Lake in Ismailia, Egypt, on Dec. 21.
Source: Bloomberg
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Half of the container-ship fleet that regularly transits the Red Sea and Suez Canal is avoiding the route now because of the threat of attacks, according to new industry data.