Red Sea Crisis Causes Shipping Costs To Rise By 173 Percent

  • International
  • 8 January 2024
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Freight fares between Asia, Europe, and the Americas have jumped by as much as 173 percent since last November due to the ongoing Red Sea crisis. This is according to a report issued by the multinational company "Freightos.com", which specializes in shipping operations and monitoring data related to the maritime transport industry.

The spot price of shipping goods in a 40-foot container from Asia to northern Europe now exceeds $4,000, up from an average of $1,900 previously, the company said. Between Asia and East Coast markets, it increased nearly 55 percent, to $3,900 for the 40-foot container.

Source (Anadolu Agency, Edited)

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