Before Iranian-backed militants in Yemen started to launch drones and missiles at cargo ships in the Red Sea, the global shipping industry was already facing a growing crisis in Panama.

That's because an ongoing drought in Central America has lowered water levels through the Panama Canal, severely restricting shipping.

And now the Red Sea situation is making it all much worse ... and that might cost all of us a lot more money on everyday things we buy.

So far at least two major global shipping companies have said they are suspending all cargo shipments through the Red Sea....

Abe Eshkenazi is CEO of the Association for Supply Chain Management.

Before Iranian-backed militants in Yemen started to launch drones and missiles at cargo ships in the Red Sea, the global shipping industry was already facing a growing crisis in Panama.
That's because an ongoing drought in Central America has lowered water levels through the Panama Canal, severely restricting shipping.
And now the Red Sea situation is making it all much worse ... and that might cost all of us a lot more money on everyday things we buy.
So far at least two major global shipping companies have said they are suspending all cargo shipments through the Red Sea....
Abe Eshkenazi is CEO of the Association for Supply Chain Management.

Advertisement