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Navigation disruptions in Red Sea affecting over 50% of British exporters — research

Some business community representatives pointed to the 300% spike in container leasing rates

LONDON, February 26. /TASS/. More than one-half of UK-based exporters believe that disruptions of navigation in the Red Sea have adversely affected their operations, according to research findings released by the British Chambers of Commerce (BCC).

"More than half (55%) of UK exporters say they have been impacted by disruption to shipping in the Red Sea," the BCC reports. A surge in costs and logistics expenses are the main challenges faced by companies, according to the research. Some business community representatives pointed to the 300% spike in container leasing rates. Some other companies report complications with cash flow and shortages of components for production stemming from the situation.

BCC experts polled 1,087 companies in carrying out the research.

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