European shipping giants brace for overcapacity concerns | Republic World
Advertisement

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.

Reported by: Business Desk
Follow: Google News Icon
  • share
Houthis Yemen
European shipping giants brace for overcapacity concerns amid Red Sea crisis | Image: AP
  • Listen to this article
  • 2 min read

15:00 IST, May 1st 2024

Advertisement