THE BIG PICTURE
repercussions in price, shipping times, and the availability of containers. July 2024 saw the Panama Canal return to a normal amount of daily vessel passages after last year's extreme drought conditions caused a drastic reduction of container traffic. As drought eased significantly, more containers have gradually been allowed to use the route. Shipping through the Suez Canal, however, remains unstable thanks to ongoing attacks on shipping vessels by Houthi rebels in the Red Sea. The Houthi rebels are a political and religious group opposed to Israel, the US, and the Western world, as well as the Yemeni president, Ali Abdullah Saleh. Since November 2023, the rebels have attacked more than 70 shipping vessels, seizing one and sinking two. The result?
Made with FlippingBook - Online magazine maker