DP World Predicts 20% Drop in Sea Freight Prices if Red Sea Attacks Decrease

Reported 2 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

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