Sea routes as a sore point in the economy – not just because of the Houthi rebels. On a hit route, trade drops by about two percent in a hurricane month.
Falling or rising sea levels – both pose risks for shipping. On the other hand, melting polar ice sheets could create new shipping routes. This ensures higher insurance premiums and reduces trading efficiency. The route between Europe and East Asia is particularly affected. The Panama Canal has often had to turn away ships or make them wait because the water level was too low.