Reported 3 months ago
DP World's deputy CEO indicated that if attacks on commercial vessels in the Red Sea are reduced, freight prices could plummet by at least 20-25% within two to three months. This comes after Yemen's Houthis pledged to limit their strikes to Israel-linked ships, potentially allowing non-Israeli vessels to return to the region soon. The ongoing attacks have significantly diverted shipping routes, impacting capacity and costs.
Source: YAHOO