Red Sea attacks driving up shipping costs has implications for solar supply
Longer routes have driven up fuel costs and shipping rates. Image: unsplash
An increase in shipping times and freight rates due to violence in the Red Sea could carry implications for renewable energy and solar products heading to Europe and the US.
According to data published yesterday (1st Feb) by the US Energy Information Administration (EIA), many ships transporting oil and gas are taking longer routes between East and West to avoid the Red Sea, greatly increasing their journey times. For example, as shown in the below chart, a route from Rotterdam to the Middle East through the Suez Canal (and then Red Sea) takes around 19 days. The alternative route, past the Cape of Good Hope at Africa’s southern tip, takes 34 days.