Shippers are currently facing a multitude of challenges in transporting goods globally, exacerbated by geopolitical tensions, natural disasters, and labor strikes, making logistics more complicated.
The conflict in the Middle East has drastically reduced shipping traffic through the Red Sea by two-thirds due to Houthi rebels' attacks, leading major firms to seek alternative routes.
With the rise of tensions in the Middle East, there are rising concerns over shipping disruptions, as container ships have largely abandoned the Red Sea.
Additionally, the drought affecting the Panama Canal has decreased the throughput of ships, coinciding with port strikes in the U.S., compounding supply chain issues.
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