Red Sea tensions impact freight rates

Red Sea tensions impact freight rates

The impact of crisis in the Middle East on world logistics shows no sign of fading, despite the military intervention in Yemen by Britain and the United States against the Houthi rebels, aimed at blocking attacks brought on container ships bound for the Suez Canal.

According to the online magazine TrasportoEuropa, which reports findings from the Drewry Container Index, on January 11th, the freight rate for a 40-foot container between Shanghai and Genoa exceeded $5,000, an a +25 percent increase over the previous week.

Slightly lower was the spot freight rate between Shanghai and Rotterdam, at $4,406 (+19%). Over the same period, the index globally marks an increase of 15%. By contrast, transatlantic freight rates remain stable, unaffected by the crisis in the Red Sea: the Rotterdam-New York rates $1,513 per feu and that between New York and Rotterdam stops at $599, in both cases with an increase of one percentage point.

Source: https://www.polimerica.it/articolo.asp?id=31119