Deep declines in offered capacity across multiple ocean trade lanes, especially Asia-to-North-Europe, transiting the Suez Canal are resulting from ongoing attacks on commercial vessels by Houthi rebels in Yemen. Capacity shortages for Asian exports to Europe are more than likely in the coming weeks. As ocean freight is re-routed around the Cape of Good Hope, thousands of nautical miles are added to journeys, increasing transit times by over a week. Due to drought, this routing is also particularly problematic as Far-East-to-North-America-East ocean freight pivoted to the Suez Canal from the Panama Canal. Though the disruptions pale compared to the ocean freight challenges during the pandemic, electronic component lead times and prices could be negatively impacted in the near and short-term. The Drewry Global Container Index has increased by 50% from mid-December to just over $3,000 per 40-foot container.