Disruptions in the Red Sea are increasing pressure on supply chain leaders to navigate conflicting priorities to manage budgets and maintain customer satisfaction.
The diversions come as European futures jumped on concerns about increased risk to supplies in the Middle East, just as the heating season gets under way.
By 2054, JKIA is expected to handle 32 million passengers and nearly one million tons of cargo, compared to 8.6 million passengers and 367,000 tons of cargo currently.
The union recently claimed that carriers "are gouging their customers," alleging that it now costs $30,000 to ship a single container. Not so, says freight rate analytics company, Xeneta.
The vote among the bloc’s member states was delayed in the wake of last-minute negotiations with Beijing to try to find a resolution that would avoid the new levies.