UAE freight rates may rise as turmoil sends crude surging

BUSINESSES BRACE FOR RIPPLE EFFECTS FROM POSSIBLE SHIPPING SQUEEZE

- BY MANOJ NAIR

Shipping container rates to and from the UAE could be heading up again — a development businesses are closely watching.

Any spike in shipping costs could eventually trickle down to consumers, even as inflation had been showing signs of easing.

Retailers, for now, are staying calm. “Everything’s good for now,” said a senior official at a leading UAE hypermarket. The prices of all major consumer categories sold through our outlets are steady. It’s too early to say how and whether prices will change.”

But in shipping circles, the concern is real.

Double whammy