Since the Houthi attacks began, an estimated 181 vessels have been rerouted around Africa, while another 26 ships are opting to drift

Some potential targets of the coalition's attacks could include launchers for anti-ship missiles and drones, as well as storage facilities for ammunition.

The company said that its vessel, the Maersk Hangzhou, was targeted by Houthis in attack boats December 31.

Russia says it regards all cargo ships in the Black Sea bound for Ukraine as potential military targets, and mines remain a constant threat.

By contrast, both Maersk and CMA CGM said they were devising plans to gradually increase the number of ships they send through the Suez Canal.

The shutdown comes about a week after Daihatsu said it was suspending all vehicle shipments after it was found that the organization used improper testing for 64 vehicle models.

Although the global business community has been confronting modern slavery for years, it hasn’t been able to slow its rise. But there is an opportunity for that to change.

Almost a fifth of global container trade has already diverted away from the Red Sea and Suez Canal.

IANA said the prolonged closure will disrupt the equilibrium that is indispensable to the smooth functioning of the freight supply chain.

“While the company understands this is a complex humanitarian crisis, most migrants are not crossing the border on trains,” Union Pacific said in a statement.