DP World Says Curb on Red Sea Attacks Could Bring Ocean Freight Rates ‘Crashing Down’

Ocean freight rates could drop “at least 20%, 25%” over the next two to three months if Houthi rebel attacks in the Red Sea on ships not directly related to Israel are ceased, DP World’s deputy chief executive Yuvraj Narayan told Reuters on the sidelines of the World Economic Forum meeting taking place in Davos, Switzerland, January 22.

Ships not linked to Israel could be…