Seaport Challenges due to Red Sea Tensions

6 March 2024
2024-03-06 10:21

Tensions in the Red Sea have resulted in longer alternative shipping routes between Asia, Europe, and the East Coast of North America.

This shift is causing significant challenges for Vietnamese seaport businesses due to increased shipping costs. Despite these challenges, Vietnamese businesses are finding opportunities amidst the difficulties. Instability in the Red Sea is severely impacting the global supply chain. This includes a steep rise in freight prices, an extension in delivery time by 20–25 days, and an increase in cargo insurance.

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