Page 128 - RusRPTApr24
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● Transport & exports
Red Sea shipping volumes have slumped more than 60% since November as vessels opt for the longer Cape route to avoid Houthi attacks. But even as the severity of the attacks mounts, freight rates have retreated from recent highs and oil-on-water may have peaked as trade flows adjust.
128 RUSSIA Country Report April 2024 www.intellinews.com
