Air freight volumes soar as Red Sea delays, risks make more big retailers, auto companies nervous
Publishing timestamp: 2024-01-19 14:46:04
Summary
The Red Sea crisis has caused a sharp rise in demand for air freight, particularly on the major apparel route from Vietnam to Europe. Companies are turning to air freight to avoid longer diversions caused by Houthi rebel attacks. If the crisis continues, air freight prices are likely to increase. The spike in air freight volumes is causing disruption in the shipping industry, similar to the early months of the pandemic. Publicly traded companies with significant exposure to Europe may be affected.
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