The capacity crunch following carrier decisions to veto Red Sea routes will leave shippers with little choice but to pay premium rates, despite having long-term contracts.  

Crowd-sourced freight rates platform Xeneta said the Red Sea shipping crisis would get worse before it got better, and shippers needed to “get their act together quickly” to secure capacity in the run-up to Chinese New Year next month.  

In its latest analysis, Sea-Intelligence also warned that shippers exporting from Asia would have limited access to capacity in the coming weeks.

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