Ocean freight rates are surging after a missile attack and attempted hijacking of a ship this weekend prompted carriers to suspend plans to restart transits through the Red Sea.
Yemen-based Houthi militants have been attacking high-value cargo vessels in the Red Sea since November in a show of support for Palestinian Islamist group Hamas fighting Israel in Gaza.
Meanwhile, members of the UN Security Council have called the Houthis to halt their attacks, saying they threatened regional stability, global freedom of navigation and food supplies.
For more news, visit sabcnews.com and #SABCNews on all Social Media platforms.
