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Red Sea crisis pumps up container, freight rates
Business Standard
|January 13, 2024
At $3,072, prices per 40-foot container highest in 15 months
As the situation in the Red Sea escalates, global container prices and ocean freight rates on major shipping routes continue to rise.
While global container prices went up by 15 percent since January 4, the rates rose 44 percent to $3,072 per 40-foot container year-on-year, according to Drewry's World Container Index.
This is the highest container prices since October 2022 and more than double the pre-Covid levels.
"The average composite index for the year-to-date is $2,871 per 40-foot container, which is $196 lower than the 10-year average rate of $2,675 (which was inflated by the exceptional 2020-22 Covid period)," the market intelligence firm said.
Most industry participants, including Drewry, expect shipping costs to continue to rise over the coming weeks. Ships to Europe re-route via the Cape of Good Hope, which adds to costs.
Diese Geschichte stammt aus der January 13, 2024-Ausgabe von Business Standard.
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