Flexport CEO Ryan Petersen Says Red Sea Still Biggest Threat to Global Shipping

Flexport Chief Executive Officer Ryan Petersen said the biggest threat to global shipping is still the Red Sea, not the Strait of Hormuz, according to Bloomberg. Petersen also cited a surge in imports driven by tariff uncertainty, said companies are stockpiling inventory after the COVID supply chain crisis, and warned Panama Canal drought risks could create the next bottleneck.