Reported 12 months ago
Danish shipping company Maersk stated that disruptions to container shipping through the Red Sea will persist into the third quarter, leading to challenges for carriers and businesses. Vessels have been rerouted around Africa's Cape of Good Hope since December to avoid Houthi militant attacks, resulting in higher freight rates. Maersk anticipates increased costs and uncertainties regarding cost recovery, emphasizing that the current high rates are temporary. The company expects missing positions and varied ship sizes, reducing its capacity to meet demand.
Source: YAHOO