Red Sea Attacks Could Have Ripple Effect on Shippers—and Consumers—in Canada

This satellite image provided by Maxar Technologies shows the Galaxy Leader ship anchored offshore of As Salif, Yemen, on Nov. 28, 2023. The Canadian Press/AP-HO, Maxar Technologies, Satellite image ©2023

Canadian shippers and consumers could soon be feeling the ripple effect of attacks on cargo vessels in the Red Sea, as freight rates rise and delivery times lengthen.

Shipping firms across the globe are turning away from the key trade corridor after Houthi militants in Yemen stepped up attacks on commercial boats in the region to protest against Israel’s military campaign in the Gaza Strip.