Charting the Global Economy: Maritime Attacks Drive Up Costs
A container ship in the Suez Canal in Suez, Egypt.
Photographer: Stringer/BloombergThis article is for subscribers only.
Shipping costs are rising as hundreds of container ships that typically transit the key maritime artery of the Red Sea and Suez Canal are rerouting after a multitude of attacks by Iran-backed Houthi militants.
Combined with disruptions at a drought-stricken Panama Canal in the Western Hemisphere, the rise in merchant shipping rates poses headwinds for central bankers in their inflation fight.