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OverviewAPI
War-risk surcharges and vessel diversions around the Cape of Good Hope are driving significant increases in sea freight costs for Asia-Europe shippers due to escalating missile and drone attacks by Houthi rebels on merchant shipping en route to and from the Suez Canal. This is leading to potential substantial freight rate hikes and a 100% increase in ocean freight shipping rates, impacting the Freightos Baltic Index (FBX) and causing disruption to ocean carrier networks.

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