Red Sea Chaos: Freight Rates Soar As Port Congestions Worsen!

It took over a month of attacks in the Red Sea from the Iran-backed Houthi Rebels before the Biden administration actually went on the offensive and destroyed Yemen's missle batteries, command and control nodes as well as missle ammunition dumps.
Retired General Keith Kellogg discussed this often on Fox News.

The long-term consequences are:

1. Container lease prices have skyrocketed.

2. Larger container ships are all now go around Africa. Before the attacks, Mid -size containerships went through the Suez Canal.

3. Larger container ships cause more CO2 pollution because they have to go faster to make up some of the time for the extra five thousand miles of travel.

4. 40-foot Container shortages continue because those containers need to go back to China to get refilled.

5. Larger container ships are more efficient. These longer ships can carry up to a billion dollars in merchandise.

6. Shippers are charging more and making more profits simultaneously.