British data shows that maritime traffic through Egypt’s Suez Canal artery has fallen by 66%. This is because goods were forced to divert due to attacks on ships by Iran-backed Houthi terrorists.
Sky News reports data from the UK’s Office for National Statistics (ONS)
- data from mid-December to early April
For financial markets, this has implications for inflation – fears that rising costs of insurance, fuel and wages risk fueling a new wave due to the large number of ships diverting along journey around the southern tip of Africa. This adds up to 14 days to transit times.
This article was written by Eamonn Sheridan at www.forexlive.com.
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