Published 15:00 IST, May 1st 2024
European shipping giants brace for overcapacity concerns amid Red Sea crisis
Spot freight rates spiked threefold to nearly $3,500 per container following vessels' avoidance of the Red Sea due to attacks by Houthi militants.
European shipping giants brace for overcapacity concerns amid Red Sea crisis
| Image:
AP
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15:00 IST, May 1st 2024