U.S. Navy’s lapse in sea lane security risks global trade

1 week ago 10

The U.S. Navy's mission to claw back control of the Suez Canal and Red Sea from Houthi rebels has failed, resulting in a 90 percent decrease in container shipping and a 1,000 percent increase in insurance premiums, as well as a 11,000-mile detour around Africa, adding $1 million to each voyage.

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