Reported 7 months ago
Global maritime trade prices are soaring in June 2024, due to various reasons including the Red Sea crisis caused by the conflict in Yemen and more. Labor negotiations between East Coast container port workers and shipping conglomerates are stalled, potentially leading to a major strike this fall. Another crisis is the dropping water levels in the Panama Canal, difficult to solve due to severe droughts worsened by climate change. These factors, along with armed conflicts in the Red Sea disrupting shipping routes, are contributing to a global maritime crisis.
Source: YAHOO