Economy

Shipping boss says Red Sea disruption could hit global growth

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The Red Sea shipping issue could go on 'for weeks or potentially months,' says Maersk analyst

Ongoing disruption to trade flows through the Red Sea could hit global economic growth, the head of one of the world’s largest container shipping firms said Thursday.

Maersk CEO Vincent Clerc said it remained unclear whether passage through the waterway would be re-established in “days, weeks or months,” in comments first provided to the Financial Times and confirmed to CNBC.

“It could potentially have quite significant consequences on global growth,” Clerc said.

The company announced Friday its vessels would be diverted from the Red Sea — which provides access to Egypt’s Suez Canal, the quickest route between Europe and Asia — for the “foreseeable future.”

Vessels are instead traveling…



Source cnbc.com

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