"Global Shipping Industry Braces for Prolonged Red Sea Disruptions"
Japanese shipping giant Mitsui OSK Lines warns that global supply chain disruptions caused by Houthi rebel attacks in the Red Sea could last up to a year, with potential for widespread impact on global supply chains if Middle East tensions escalate further. The company has halted all transits through the Red Sea and highlights the ongoing risks of sailing in the region. President Biden's Operation Prosperity Guardian and US and UK bombing raids have not stopped the attacks, and warnings from major banks and shipping companies emphasize the potential for further disruptions if regional instability spreads across the Middle East.