ATTACKS by Iranian-backed Houthi forces on Red Sea shipping has disrupted key trade lanes, causing increased freight rates and port congestion, reports Istanbul's Daily Sabah.

Here's how some shipping companies are coping:

CMA CGM: Suspended most Red Sea voyages; occasional cargoes with French navy escorts.

Diana Shipping: Avoiding the Suez Canal, leading to a 40 per cent drop in transits. Euronav, Evergreen, Frontline, Gram Car Carriers, Hafnia, HMM, Hoegh Autoliners, Klaveness Combination Carriers, Nippon Yusen, Ocean Network Express, OOCL, Star Bulk, Tailwind Shipping Lines, Torm, Wallenius Wilhelmsen, Yang Ming Marine Transport are also avoiding the Red Sea and/or rerouting around South Africa.

Hapag-Lloyd is rerouting vessels around Africa and cutting expenses due to disruptions. Kuehne+Nagel expects disruptions to impact profits significantly.

Maersk has suspended Red Sea traffic, forecasting significant capacity reductions until at least the end of 2024. MSC too, is also not using the Suez Canal route.