Red Sea crisis boosts shipping costs, delays – and inflation worries
Publishing timestamp: 2024-01-03 18:57:01
Summary
The threat of violence in the Red Sea has led to the diversion of over $200 billion in trade, causing longer shipping times and higher freight costs. Attacks on ships in the region are pushing ocean freight rates higher, leading to warnings of inflation and delayed goods. The disruptions in the supply chain are creating challenges for global trade, and the situation may worsen if the problems in the Red Sea and Indian Ocean continue.
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Keywords: walmart inc, union pacific corp, trade, berkshire hathaway inc, china, breaking news: business, transportation, united states, business news,
Source: https://www.cnbc.com/2024/01/03/red-sea-crisis-shipping-costs-delays-inflation.html