Half of Shipping Routes to Israel through Red Sea Halted due to Houthi Threat

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(Calcalist) Adiel Eithan Mustaki - Shipping giant Maersk announced that it will stop transporting goods through the Suez Canal following attacks by the Houthis in Yemen, and was quickly followed by two other large shipping companies. "About 99% of goods reach Israel by sea, and around 40% of the cargo arriving in Israel passes through the Suez Canal," said Dr. Elyakim BenHakoun from the Technion. "The consequence of stopping ship traffic in the Red Sea is to circumnavigate Africa, leading to an extension of shipping times by approximately two weeks to a month.... This roughly translates to an additional cost of $400,0000-$1 million per ship." News Alert from Israel http://www.dailyalert.org/

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