Red Sea attacks set to disrupt global trade flows, spiking air freight rates
Red Sea assaults by the Houthi have not only escalated sea freight rates but are also set to cause a surge in air freight costs due to global trade disruptions. Over the past weeks, ocean freight rates have soared by up to $10,000 per 40-foot container. This increase is due to the diversion of more than $200 billion worth of cargo as container ships circumnavigate the Cape of Good Hope in
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