Recently I read “The Box” and had the author Marc Levinson on my podcast to discuss the importance of container shipping in enabling global trade and slashing shipping costs.
Today I’m hearing some concerning developments in the Red Sea with Maersk apparently pausing all voyages through the Suez canal and Hapag-Lloyd doing the same until Monday after ships were hit with missiles yesterday.
Given the importance of the Suez canal as a trade route between Europe and Asia, I wonder if pausing shipments will cause any material follow-on inflation.
I don’t have any inside info here, but it struck me today as something worth keeping a closes eye on, especially if attacks on ships escalate or if these pauses are extended.