Global Supply Chain Disruptions

Global supply chain disruptions continue to worsen due to various disturbances like conflicts, droughts, and labor strikes, leading to soaring cargo prices, longer shipping times, and potential product shortages. The situation resembles the challenges faced during the Covid-19 pandemic, with rising shipping costs and uncertainties ahead.

Tensions in the South China Sea

Tensions have escalated in the South China Sea after China intercepted a US Destroyer near Huangyan Island. China claims sovereignty over the South China Sea, which is disputed by the US and its allies, as well as other nations with claims in the region.

Yemen's Houthi Rebels Attack Commercial Ship in Gulf of Aden

A missile attack by Yemen's Houthi rebels on a commercial ship in the Gulf of Aden killed two crew members, escalating the conflict in the region. The attack is part of a series of assaults by the Iranian-backed group, further disrupting global shipping routes. The U.S. and Indian navies are involved in rescue efforts amidst ongoing attacks in the area.