The world must brace for a second wave of trade disruptions from the Red Sea crisis even after the conflict has been resolved, the boss of a shipping giant has warned. Delays could last for months even after Houthi attacks on ships passing through the Bab El-Mandeb strait have stopped, according to Cameron Bowie, UK managing director at Hapag-Lloyd. It is the latest sign that the crisis could keep inflation higher for longer as higher shipping costs filter through the world economy. That is the second wave of concern that we need to manage. The Houthis have carried out more than 30 attacks on commercial ships, sparking an international naval response and retaliatory missile strikes from the US and UK.
