Shippers have already diverted over $60 billion in cargo from the Red Sea amid fears of attacks
Publishing timestamp: 2023-12-20 10:30:24
Summary
The article discusses how carriers are re-routing vessels due to Houthi attacks in the Red Sea, resulting in delays for U.S. shippers. The U.S. Defense Secretary has announced the formation of an international task force to address security issues. Shippers have diverted billions of dollars worth of cargo away from the Red Sea. The article also mentions the potential for increased fleet capacity and adjustments to networks, but highlights the importance of international authority monitoring capacity and pricing. Delays and disruptions are expected, and logistics executives are concerned about freight rates. The Federal Maritime Commission will monitor rates closely.
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Keywords: trade, united states, economy, breaking news: business, business news, business, breaking news: economy, panama, transportation, ch robinson worldwide inc,
Source: https://www.cnbc.com/2023/12/19/shippers-divert-35-billion-in-cargo-from-red-sea.html