S&P Global warned that disruptions to navigation in the Red Sea as a result of geopolitical tensions in the Middle East are negatively affecting global trade flows.
Much of the freight traffic that normally passes through the Suez Canal is reoriented around the Cape of Good Hope, including liquefied natural gas (LNG) shipments and oil exports from the Gulf Cooperation Council (GCC), particularly from Qatar heading north to Europe.
Diverting ships away from the Red Sea will have little impact on Qatari entities exposed to oil and gas, as the majority of their consumers are in Asia.
Source (Al-Arabiya.net Website, Edited)
