The global shipping industry is facing new challenges, especially on the crucial Suez Canal route. Recently, Mediterranean Shipping Company (MSC), the worlds largest container shipping company headquartered in Switzerland, announced the suspension of transits through the Suez Canal. This decision was made after the Houthi movement launched several attacks on merchant ships recently.

The Houthi movement, in recent days, has attacked several cargo ships in the Red Sea in retaliation for Israel. The Red Sea is a vital east - west trade route, especially crucial for oil transportation. It enables ships to use the Suez Canal, avoiding the additional time and cost of bypassing Africa.

On Friday, December 15, the MSC Palatium III, a Liberian - flagged ship, was attacked by an explosive - laden drone in the Bab el - Mandeb Strait at the southern end of the Red Sea. Before MSC made this decision, several global trade giants, from Maersk to Hapag - Lloyd, also suspended their shipping in the Red Sea due to Houthi attacks on their ships.Maritime TransportationThe Red Sea has always been a dangerous area for commercial shipping. Currently, Iran and Russia are collaborating on a large - scale logistics project. This project aims to build an inter - continental transportation corridor that will connect St. Petersburg, Russias second - largest city, and Baltic Sea ports to Iranian territory and eventually extend to India. In the future, this route may also be connected to China through Central Asia.

This series of events and developments indicates that the global shipping industry is dealing with an increasingly complex geopolitical environment and related risks and challenges.

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