Traders shipping goods to and from Europe will continue to experience higher costs despite the recent cessation of hostilities between Israel and Hamas in Gaza as logistics firms take a cautious approach before resuming full use of the Red Sea route.
The conflict in the Middle East, which began in October 2023, negatively affected trade when Yemeni Houthi rebels started attacking merchant ships in the Red Sea corridor in retaliation to Israel’s invasion of the Gaza Strip.
