Cargo surge and port congestion send Far East–Middle East rates climbing

AI Summary

A surge in cargo demand during peak season has pushed freight rates from Asia to Gulf economies to unprecedented highs. The rush to move goods through the Strait of Hormuz region has also intensified port congestion.

Freight rates from Asia to Gulf economies trapped behind the straits of Hormuz hit unprecedented highs during this year’s peak season as importers rushed to get cargo into the region, prompting another wave of port congestion. The post Cargo surge and port congestion send Far East–Middle East rates climbing appeared first on The Loadstar.