Red Sea crisis seen as bigger impact event for shipping than early pandemic

Disruptions to shipping from the Houthi attacks in the Red Sea already are more damaging to the supply chain than the early COVID-19 pandemic, maritime advisory firm Sea-Intelligence said this week in an analysis of vessel delays. Supply chain data known in the industry as “vessel capacity” shows the second largest drop in recent years, surpassed only when the giant Ever Given cargo ship was stuck in the Suez Canal for six days during March 2021, which halted billions of dollars in trade. With that exception, the Red Sea crisis is “the largest single event – even larger than the…