How attacks on ships in the Red Sea by Yemen’s Houthi rebels are crimping global trade

By COURTNEY BONNELL and DAVID McHUGH
AP Business Writers

LONDON (AP) — The attacks on commercial ships in the Red Sea by Yemen’s Iran-backed Houthi rebels have rerouted trade away from a crucial corridor for consumer goods and energy supplies. That’s delaying shipments and raising transport costs. Oil, natural gas, grain and everything from toys to electronics typically travel through the waterway separating Africa and the Arabian Peninsula, heading to the Suez Canal, where usually 12% of the world’s trade passes. Some of the world’s largest container shipping companies and oil giant BP have been sending vessels on longer journeys around Africa that bypass the Red Sea. Early Friday, U.S. and British warships launched waves of air, ship and submarine-launched missiles at Houthi positions in Yemen.