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The World Bank warned of a global crisis in supply chains if attacks by the Iran-backed Houthi militias on vessels in the Red Sea continued for an additional three months, saying it would be a crisis similar to the one the world experienced during the coronavirus pandemic. In its report on the rerouting of ships from the Suez Canal and fears of a new supply chain crisis, the World Bank confirmed that the global container shipping industry will likely absorb the shock to capacity caused by attacks because demand is generally soft in January and February.

Mediterranean seaOceans generalUnited statesRed seaDjibouti generalWorld bank global supply chain stress indexMediterranean shipping companyWorld bankIran backed houthiSuez canalNorth americaGood hopeGlobal supply chain stressEast asiaNorthern europe