According to the British Chambers of Commerce, 55% of exporters are reporting increased transport costs and delays.
More than half of UK exporters have had their operations disrupted by the Red Sea attack by Yemen's Houthis, a study by an influential business group has revealed.
According to a survey by the British Chambers of Commerce (BCC), 55% of exporters reported increased transport costs and delays, as did 53% of manufacturers and B2C services companies.
According to a survey of 1,000 companies from January 15th to February 9th, 37% of all types of companies were affected by attacks.
Some companies surveyed said container rental costs had increased by as much as four times and delivery times had significantly increased by up to four weeks.
“The shipping and cargo industry has the capacity to respond to challenges and this has bought us time,” BCC head of trade policy William Bain said on Sunday.
“However, our research shows that the longer the current situation persists, the more cost pressures are likely to start to increase.”
The Iran-backed Houthis have carried out dozens of missile and drone attacks on commercial ships in the Red Sea, one of the world's busiest shipping lanes, since the start of the war in Gaza.
The rebels say they are targeting ships linked to Israel in a show of solidarity with Palestinians who are under Israeli shelling in Gaza.
The Houthi offensive has caused major disruption to global trade, with an estimated 42% drop in trade through the Suez Canal, which connects the Red Sea and the Mediterranean, according to the United Nations Conference on Trade and Development.
Tetley Tea, the UK's second most popular tea brand, announced earlier this month that supplies were becoming “even tighter” due to disruptions in the Red Sea.
The United States and Britain responded to the attack by launching dozens of airstrikes against Houthi-linked targets.
On Saturday, both the US and UK militaries said they had bombed 18 Houthi positions in Yemen, including underground weapons and missile storage facilities, air defense systems, radars and helicopters.
