NEW YORK -- The series of ship attacks by Iran-backed Houthi rebels in the Red Sea could curtail global shipping capacity by 20%, according to experts, in a fresh blow to supply chains that could reignite inflationary pressures.
At least 121 containerships are already taking longer routes to avoid the Suez Canal and the Red Sea, where the Houthis have been stepping up attacks with drones and missiles since the start of the Israel-Hamas war.
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