due to Houthi attacks, world prices for container shipping have doubled – Kommersant
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Due to Yemen’s Houthi attacks on ships in the Red Sea and the need to redirect container ships to other routes, the cost of container shipping in the world has increased significantly. Since the end of November, the average cost of shipping a 40-foot (about 12 m) container has almost doubled. Writes about this The Wall Street Journal with reference to data from the consulting company Drewry Shipping Consultants.
Growth has accelerated in recent weeks, especially in some areas. Thus, the spot price for delivering a container from China to Rotterdam reached $3.6 thousand in early January – thereby the price increased by 115% compared to the previous week.
The Red Sea is the shortest waterway connecting Asia and Europe through the Suez Canal. About a third of all global container traffic passes through it. In the beginning of December have become more frequent shelling ships sailing in international waters in the Red Sea as war breaks out between Israel and the Palestinian Hamas movement. Yemen’s Houthis, who support Hamas, have carried out missile or drone strikes against ships they believe are associated with Israel. Today, January 10, the Houthis attacked American ship in the Red Sea.
After the shelling began, many container carriers, including CMA CGM, MSC, Hapag-Lloyd, Maersk, Cosco, began change routes of their ships. As the WSJ writes, citing experts, the total volume of container traffic in the Red Sea decreased by 20% in December compared to the previous month.
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