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The cost of transporting a container to an East Coast port from China has soared to around $3,900 from $2,300 before the Red Sea attacks, says Zvi Schreiber, the chief executive of Freightos, a.
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This is good news for shipping stocks. Maersk shares are up over 17% this week alone, their biggest weekly jump since April 2009, making them the biggest gainer in Europe's STOXX 600 benchmark.
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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.
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1:26. Shipping disruption in the Red Sea could lead to inflation on some consumer goods, Tesco Plc 's chief executive officer said Thursday. "If they do have to go the whole way around Africa.
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Up to a quarter of the world's goods ship through the Bab al Mandeb, including critical energy supplies for Europe from the Persian Gulf. Photograph by Gallo Images, Orbital Horizon/Copernicus.
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Key Points. The Red Sea crisis is having a global ripple effect on freight rates with shipping costs between Asia and the U.S. now spiking as well. JPMorgan told clients the fight against.
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MSC, the largest ocean carrier in the world, was the first shipping company to release rates for the second half of January. Starting Monday, container rates for MSC clients will be $5,000 for U.S.
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Next has warned supplies of its products could be delayed if disruption to shipping in the Red Sea continues. Attacks by Houthi rebels on vessels in one of the world's busiest shipping lanes have.
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1:25. European natural gas prices rebounded after a two-day slide as more attacks on vessels in the Red Sea raised the risk of prolonged disruptions to a key shipping route. Benchmark futures.
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Step 1: Sign Up for an International Shipping Forwarder If Yandy doesn't ship to your country, then you need to ship your items to a US/UK package forwarder who'll then ship your package to your international location.