Red Sea shipping slows after Houthi attack on Saudi Arabia, data shows

Shipping traffic in the Red Sea has noticeably slowed after a Houthi attack on Saudi Arabia, according to new data. The strike, which targeted a Saudi port or vessel, has heightened security concerns along one of the world's busiest maritime chokepoints. The slowdown means longer transit times for cargo, higher insurance premiums, and potential delays for container ships and oil tankers. The Red Sea route, which connects the Mediterranean to the Indian Ocean via the Suez Canal, handles about 12% of global trade. Shipping companies are now rerouting vessels around the Cape of Good Hope, adding weeks to voyages and increasing fuel costs. The attack also threatens Saudi Arabia's role as a key oil exporter and regional logistics hub. Analysts say the disruption could push up prices for consumer goods and energy if it persists. The Houthi group, which controls parts of Yemen, has conducted a series of maritime attacks since late 2023, but this incident directly hitting Saudi Arabia marks an escalation. Governments and naval coalitions are stepping up patrols, but the security situation remains fluid.