Disruptions in Red Sea route likely to raise freight and forwarding cost by 25-30%: Report
Major shipping lines are avoiding the Suez Canal and are rerouting vessels around the Cape of Good Hope, which has increased time and costs for exporters. File | Photo Credit: KK Mustafah Sustained disruptions in the Red Sea route is likely to raise the freight and forwarding (F&F) cost by 25-30% for corporates largely dealing…