2024-02-04 21:42:00
The strikes forced ships to change course, thus causing major disruptions in the production chains of the various companies | An interim summary of the negatively affected industries
The attacks by the Houthi rebels in Yemen in the Red Sea have disrupted international trade on the short shipping route between Europe and Asia. The attacks target a route that accounts for about 15% of the world’s shipping traffic, forcing some shipping companies to divert their vessels. The attacks forced some commercial ships passing through the Suez Canal and the Bab al-Mandab Strait to take an alternate and much longer route around South Africa’s Cape of Good Hope, causing major changes and delays.
Below is a summary of the impact of the Houthi attacks on large companies:
the field of vehicles
Geely: China’s second-largest automaker by sales said on Dec. 22 that its electric vehicle (EV) sales are likely to be affected by a supply delay.
Suzuki: The company’s Hungarian manufacturing plant resumed production on January 22 as planned after a halt the previous week due to delays in the arrival of Japanese-made engines.
Tesla: The US electric car maker halted most car production at its plant near Berlin from January 29 to February 11 due to component shortages caused by changes in transportation routes.
Different areas
Electrolux: The Swedish home appliance maker has set up a task force to find alternative routes or identify priority shipments to try to avoid disruptions. On February 2, its CEO said the costs associated with developments in the Red Sea were manageable. “If the situation continues, I’m more concerned about higher costs than the risk of suspending production,” he added.
Logitech: The CEO of the computer peripherals maker said on January 23 that profit margins will be hurt by higher shipping costs due to the Red Sea crisis.
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