Global shipping recession could end as freight rates soar on Red Sea troubles

Vessels transiting the Red Sea have faced attacks over the past several weeks from Yemen-based Houthis, prompting shipping companies to change routes, leading to a spike in freight rates. Embarking on longer detours around the Cape of Good Hope in South Africa have pushed ocean freight rates by up…#redsea #yemen #capeofgoodhope #southafrica #houthi #gibraltareagle #uscentralcommand #vocc #alanbaer #olusa
Source: Reuters: Health - Category: Consumer Health News Source Type: news