How Houthi attacks on ships in the Red Sea are affecting global trade

By COURTNEY BONNELL
AP Business Writer

LONDON (AP) — The attacks on commercial ships in the Red Sea by Yemen’s Houthi rebels have rerouted a majority of global trade away from the crucial maritime artery for consumer goods and energy supplies. That’s expected to mean delays and rising prices. Oil, natural gas, grain and everything from toys to electronics typically travel through the waterway separating Africa and the Arabian Peninsula en route to the Suez Canal, where 12% of the world’s trade passes. Some of the world’s largest container shipping companies and oil giant BP are sending vessels on longer journeys that bypass the Red Sea. In response, the U.S. and a host of other nations have created a new force to protect ships.