Red Sea Attacks Could Have Ripple Effect on Shippers—and Consumers—in Canada

Canadian shippers and consumers could soon be feeling the ripple effect of attacks on cargo vessels in the Red Sea, as freight rates rise and delivery times lengthen. Shipping firms across the globe are turning away from the key trade corridor after Houthi militants in Yemen stepped up attacks on commercial boats in the region to protest against Israel’s military campaign in the Gaza Strip. Shipping giant Maersk said on Jan. 5 it plans to continue rerouting all vessels bound for the Suez Canal around Africa’s Cape of Good Hope “for the foreseeable future,” following an earlier pause through the waterway linking Asia and Europe....