Shipping turmoil in the Red Sea and at the Panama Canal has cost the global economy $1.25trn, according to a new report.
London data analysis company Russell Group analysed trade between October 2023 and May 2024.
In its report, called Why Insurers Should Monitor Their Transit Route Accumulations, the group said the commodities most impacted by Houthi attacks on vessels in the Red Sea were crude oil, plastic materials, telephone equipment, cars and clothing.
