PETALING JAYA: Shipping diversions from the Red Sea have continued to weigh down on global trade, especially within the Asia to Europe regions, says Kenanga Investment Bank Bhd
.
In a report, the research house said the diversion from the Suez Canal to the Cape of Good Hope had resulted in a longer voyage for the Asia-Europe route, which contributes to 30% of global container volume, thus reducing the frequency of calls to shipping lines.
