Families across the UK may soon face higher prices for goods and products due to disruption in shipping caused by Houthi rebels in the Red Sea, according to experts. Vessels are avoiding the area, which is adding up to ten days to sailing times. As a result, shipping companies such as Maersk are increasing prices, with a $500 per customer surcharge. Retailers like Next, Ikea, and Electrolux have already warned of delivery delays. Industry experts warn that these additional costs will ultimately be passed on to shoppers through higher prices.

Knock-on Impacts on Shipping Timescales and Supply Chain

The diversions caused by the threat from Houthi rebels are expected to have knock-on impacts on shipping timescales and the supply of stock. Scott Whiffin, executive director at the supply chain group Scala, explained that the disruptions could lead to delays in shipping, shortage of stock, and an increase in the price of goods for consumers.

Profits Soar for London-Listed Shipbroker Clarkson

While many businesses are facing challenges due to the shipping disruption, some are reaping the rewards. London-listed shipbroker Clarkson has announced that its profits will rise to at least £108million this year, causing its shares to increase by eight per cent.

Revolution Bars Shuts Eight Venues Despite Strong Christmas Sales

Revolution Bars, a popular pub group, has made the decision to close eight venues despite experiencing its best Christmas sales in four years. The company cited rising staffing costs as the reason for the closures, stating that it could not afford to keep unprofitable bars open. Despite an increase in festive sales, Revolution Bars reported a decrease in revenues over the past six months.

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