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International

Shipping costs rise by over 300% amid Red Sea disruption

January 15, 2024 Reprints

Recent data by global logistics company DSV A/S showed that shipping cost have increased by over 300% since November 2023 amidst the disruption caused to freight in the Red Sea from attacks by Yemen’s Houthi militant group, Sky News reported. Oil costs have increased drastically, and freight prices also continued to increase following the launch of attacks by the U.K. and the U.S. to stop the militant group’s activity in the crucial transport route.

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Shipping costs rise by over 300% amid Red Sea disruption

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