Hapag-Lloyd, the world's fifth largest container shipping company in the world, has halted its activities in the Red Sea.
MSC, the largest shipping company, and Maersk, the second largest, have also announced that they wish to avoid the Red Sea.
We can expect total disruption to logistics lines and a massive increase in the price of consumer goods.
This is because the shipping companies will be passing on the extra transport costs to the consumer.
MSC, the largest shipping company, and Maersk, the second largest, have also announced that they wish to avoid the Red Sea.
We can expect total disruption to logistics lines and a massive increase in the price of consumer goods.
This is because the shipping companies will be passing on the extra transport costs to the consumer.