Shipping costs are increasing in significant trade routes for the foreseeable future. This trend is expected to persist at least until the Chinese New Year and possibly beyond. To address the rapid rate increases, we have decided to implement an Emergency Cost Recovery Surcharge (ECRS) i...
Mitigating the Impact of the Red Sea CrisisSource: Reuters Future-Proofing Your Shipping RoutesTo avoid the geopolitical risks in the Red Sea, many companies have adopted the longer, costlier but ultimately reliable alternative routes around the Cape of Good Hope. Using these lanes meant that ...
No quick fix for Red Sea shipping risks, impact potentially drags on to 2Q 2023 ended with new disruptions for trade and supply chains following the security crisis in the Red Sea and there’s no end in sight yet. To avoid Houthi militant attacks on their vessels in the Gulf ...
AMMAN, Dec. 28 (Xinhua) -- The Jordan Chamber of Commerce and the Transport Ministry on Thursday agreed to form a joint committee to monitor shipping safety in the Red Sea and other developments in the key waterway. Members of the committee include those from the Jordan Chamber of Commerce,...
For now, however, the impact on shipping in the Red Sea is “small because it is too early,” said Kartsonas. “If that persists for weeks or months, we should start feeling the impact on higher freight costs, potential delays in deliveries of goods and commodities, and overall higher de...
Explore the impact of the Red Sea crisis on global shipping: disrupted routes, heightened risks, and the surge in shipping rates. Stay informed with Freightos.
Impact on Shipping Rates The crisis has caused a surge in container shipping spot rates, liner costs and fuel consumption for the longer voyages. Diverted ships may impact cargo volumes. Emergency surcharges announced by carriers, such as AAL Shipping, suggest that costs are likely to rise even...
Meanwhile, the attacks in the area also have a financial impact on shipping, in the sensethat war risk insurance premiums for Red Sea voyages have reportedly increasedafter the multiple attacks. Latest attacks MSC confirmed that on 26 December 2023 the container ship MSC UNITED VIII was attacked...
Second, although the Red Sea crisis also has a certain impact on China's textile and clothing exports to Europe (the routes in Europe and the Middle East have been empty), on the one hand, China Europe trains are more alternative to shipping. The space of China Europe trains has been bo...
skip to content back to blog may 2, 2024 the lasting impact of the red sea diversions on shipping costs trine nielsen, senior director, head of ocean, emea back to blog ocean freight the lasting impact of the red sea diversions on shipping costs the lasting impact of the red sea ...