Red Sea attack-fueled ocean freight inflation is starting to reverse

News Snapshot:

An aerial view of a container ship leaving the dockyard in Qingdao in east China's Shandong province. Future Publishing | Future Publishing | Getty Images The Red Sea crisis has fueled a sharp spike in ocean freight inflation over the past two months, but there are signs that upward pressure on shipping rates on key trade routes may have peaked. Shipping rates on ocean routes from Asia to the U.S. are beginning to decline, based on analysis of the latest cargo data from Xeneta, a leading ocean and air freight benchmarking platform. Europe and the Mediterranean rates had already started...