Approximately 12% of global trade flows through the Suez Canal. However, recent attacks in the Red Sea have led to significant delays and increased costs in the shipping industry. Supply Chain Expert Dr. Sarah Schiffling from HANKEN School of Economics, an esteemed ReMuNet partner, sheds light on the repercussions of such disruptions, emphasizing their far-reaching impact on costs and our daily lives. The Panama Canal, also responsible for a substantial portion of global maritime trade, is currently grappling with its own set of problems. As issues persist in the Panama Canal, an increasing number of shipping containers are being rerouted, exacerbating the challenges posed by the disruptions in the Red Sea. This dual crisis is amplifying the impact on global shipping networks, further emphasizing the need for comprehensive solutions to ensure the smooth flow of international trade.

As the world navigates through these challenges, it becomes imperative to address and resolve the bottlenecks in our transport system to restore the efficiency and reliability of global trade routes and supply chains.