Ongoing attacks on containers in the Red Sea have forced a significant rerouting of ships to Europe via the Cape of Good Hope. This shift, driven by concerns over Houthi rebel attacks, poses a substantial threat to global trade and could lead to a remarkable 80% increase in shipping costs.
Cost Surge Due to ReroutingThe rerouting of ships via the Cape of Good Hope necessitates additional capacities, resulting in a surge in shipping costs. Sunil K Vaswani, Executive Director of the Container...
https://mfame.guru/cape-of-good-hope-detour-the-economic-toll-of-red-sea-disruptions/