The logistics industry is grappling with a major shipping upheaval as militant attacks in the Red Sea force companies like Basic Fun, a toymaker for Walmart, to reroute cargo away from the Suez Canal. This crucial trade route, used by one-third of global container ship cargo, is disrupted by Yemeni Houthis' attacks supporting Hamas. Businesses worldwide, including IKEA, Home Depot, and Amazon, are redirecting shipments, anticipating up to $1 million extra in fuel costs per round trip. The situation is expected to cause shortages, stranded containers, and increased transport prices, impacting the global supply chain.

SOURCE:GOOGLE