Citing recent US media reports, the Red Sea crisis continues to ferment and has now seriously affected the US furniture industry. Since 12% of the world's shipping passes through the Suez Canal where the Red Sea crisis broke out, freight companies chose to bypass it, which resulted in a significant extension of shipping time and a huge increase in freight costs. In the interconnected global logistics system, any problem will have ripple effects. Geoff Hawkes, chairman of Rochdale Spears, a Vietnamese company that mainly supplies high-end home furnishing brands, said: "You will find a large number of ...
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