At the beginning of June 2024, the global shipping industry continued to face a significant disruption due to an unexpected supply shock originating from the Red Sea. This critical maritime passage, a vital artery for international trade, saw a sudden and severe disruption, sending ripples across the global supply chain. The Red Sea, which connects the Mediterranean Sea to the Indian Ocean via the Suez Canal, is one of the busiest maritime routes in the world. It is a crucial conduit for the transportation of goods, including oil, consumer products, and raw materials, making any disruption here particularly impactful. The…