Red Sea Shipping Crisis: New Freighters and Transport Preparedness Ease Disruptions
The cost of shipping goods from Asia has soared over 300 percent due to attacks by the Houthi militia in the Red Sea, prompting fears of supply chain disruptions. However, the entry of a large number of container ships ordered two to three years ago is expected to ease the situation by providing extra vessels to help shipping companies maintain regular service despite longer travel distances. Analysts anticipate that this robust supply of new ships will eventually push down shipping rates later this year.
