Container ship. Illustration. (Photo: Studio concept/Shutterstock)
Danish Shipping giant Maersk said today (Monday) that increasing disruptions caused by Iran-backed Houthi attacks on shipping in the Red Sea could cut shipping capacity between Europe and Asia by as much as 20% in the second quarter, according to a report by Reuters.
"The risk zone has expanded, and attacks are reaching further offshore. This has forced our vessels to lengthen their journey further, resulting in additional time and costs to get your cargo to its destination for the time being," it told customers in an advisory.