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Quoted By: >>1253407
https://www.bloomberg.com/news/articles/2024-01-04/spot-container-shipping-rates-soar-173-on-red-sea-diversions
https://finance.yahoo.com/news/shipping-stocks-jump-as-freight-costs-soar-amid-red-sea-tensions-170056708.html
Short-term rates for container shipping between Asia, Europe and the US are climbing on reduced capacity caused by the threats to cargo vessels in the Red Sea.
The spot rate for shipping goods in a 40-foot container from Asia to northern Europe now tops $4,000, a 173% jump from just before the diversions started in mid-December, Freightos.com, a cargo booking and payment platform, said late Wednesday.
The cost for goods from Asia to the Mediterranean increased to $5,175, Freightos said, adding that some carriers have announced prices above $6,000 for this route starting in mid-January. Rates from Asia to North America’s East Coast have risen 55% to $3,900 for a 40-foot container.
Services from Asia to northern Europe and to the Mediterranean both cost more than twice their levels in January 2019, but are still well below their peaks during the Covid-19 pandemic, said Judah Levine, head of research at Freightos.
A separate gauge of spot container rates released Thursday also showed a surge. According to the Drewry World Container Index, rates from China to Europe have more than doubled since Dec. 21, and those from Shanghai to Los Angeles rose 30%.
https://finance.yahoo.com/news/shipping-stocks-jump-as-freight-costs-soar-amid-red-sea-tensions-170056708.html
Short-term rates for container shipping between Asia, Europe and the US are climbing on reduced capacity caused by the threats to cargo vessels in the Red Sea.
The spot rate for shipping goods in a 40-foot container from Asia to northern Europe now tops $4,000, a 173% jump from just before the diversions started in mid-December, Freightos.com, a cargo booking and payment platform, said late Wednesday.
The cost for goods from Asia to the Mediterranean increased to $5,175, Freightos said, adding that some carriers have announced prices above $6,000 for this route starting in mid-January. Rates from Asia to North America’s East Coast have risen 55% to $3,900 for a 40-foot container.
Services from Asia to northern Europe and to the Mediterranean both cost more than twice their levels in January 2019, but are still well below their peaks during the Covid-19 pandemic, said Judah Levine, head of research at Freightos.
A separate gauge of spot container rates released Thursday also showed a surge. According to the Drewry World Container Index, rates from China to Europe have more than doubled since Dec. 21, and those from Shanghai to Los Angeles rose 30%.
