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The Houthis in Yemen are successfully targeting ships transiting the Red Sea and the Suez Canal, in protest of Israel's military actions in Gaza.
Global shipping companies are routing shipping lanes between Europe and Asia around Africa, adding weeks of transit time, and far higher costs in fuel and crews.
But that means more time on the water, and fewer turnarounds. Container rates are rising even while trade with the US falls, and companies like Maersk are booking far higher profits than anyone forecast.
Chinese ships, however, are not going around Africa. The Chinese and Iranian governments very likely have an understanding that China's ships will not be attacked. That translates into substantial cost savings for the shipping companies, and the customers of Chinese products.
Closing scene, Dalian, Liaoning
Resources and links:
China buys almost all of Iran’s oil
BBC, Trump says US to stop attacking Houthis in Yemen as group has 'capitulated'
https://www.bbc.com/news/articles/c5y5yd08wy7o
Bloomberg, Houthis to Step Up Shipping Attacks to Press Israel on Gaza
New York Times, Satellite Imagery Shows Ship Hijacked by Houthis Near Yemen Port
https://www.nytimes.com/2023/11/21/world/middleeast/houthi-hijack-ship-galaxy-leader.html
NYT, Four More Rescued in Red Sea, as Houthis Vow to Keep Up Attacks
https://www.nytimes.com/2025/07/10/world/middleeast/houthis-attack-crew-rescued.html
Reuters, Maersk raises profit guidance on strong demand and Red Sea disruption
NYT, China’s Automakers Are Taking a Shortcut to European Markets
https://www.nytimes.com/2025/08/11/business/china-electric-vehicles-red-sea.html
Reuters, Maersk boosts profit outlook as container demand defies trade fears
Increasing new car prices for European fleets
https://www.activacontracts.co.uk/news/increasing-new-car-prices-for-european-fleets.html
https://x.com/PressSec/status/1919819170406977949
Mirrored - Inside China Business
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