Shipping companies avoiding Red Sea routes warn of delays

Germany's Hapag-Lloyd and Hong Kong's OOCL are the latest shipping companies to announce they will avoid the Red Sea, after attacks by Yemen's Houthi rebels in the region. The attacks have disrupted shipping through the Suez Canal, which handles about 12 per cent of worldwide trade. Hapag-Lloyd said it would reroute 25 ships by the end of the year as freight rates and shipping stocks increased.