The global shipping industry keeps the wheels turning for a healthy economy, ensuring that goods reach their intended recipients. But lately, amid the ongoing geopolitical tensions, unrest in the Red Sea region amid Houthi attacks on ships have resulted in major shipping diversions. Consequently, the routes are longer, demand is through the roof, and capacity is tight.
Plus, according to Transport Intelligence’s (Ti) latest Ocean Freight Confidence Index, ocean freight rates hit their highest point in 16 months in February. The fluctuating freight rates are drawing investors’ attention to shipping stocks.
