Global shipping is a disaster | Inside China Business

The Strait of Hormuz was closed in the early days of this year's War on Iran, with severe impacts on the the global energy trade.

Now maritime shipping faces its worst crisis in modern times, as other major chokepoints are shut off.

The Houthis have again sealed off the Red Sea and the Suez Canal. The Panama Canal traffic is slowing, because of low rainfall. The Danube and Rhine Rivers in Europe are at record-low levels and shipping volumes are down 80%.

Shipping through the Turkish Straits is also threatened by the strikes on refineries and port facilities on the Black Sea.

We have no historical data to guide decisionmaking, in the case of multiple failures in the maritime shipping industry.