Red Sea Shipping Crisis 2024. Houthi attacks on shipping vessels in the red sea mark a significant flashpoint in global container shipping as rerouted vessels lead to higher shipping costs. Almost half of all vessels were rerouted around the cape of good hope in january.

Leading shipping groups have urged governments “with influence” to put a stop to houthi attacks on vessels in the red sea after a second freighter sank this week. Presumably, ships with low cargo value, and a higher tolerance for risk, have.