Container shipping rates for the short term between Asia, Europe, and the United States have surged by 173% due to a reduction in capacity.
This increase is a consequence of ongoing threats to cargo ships in the Red Sea.
The website “Freightos.com” indicated that the spot price for shipping goods in a 40-foot container from Asia to Northern Europe now exceeds $4,000.
The website reported that the cost of shipping goods from Asia to the Mediterranean has increased to about $5,200. It added that some shipping companies have announced prices exceeding $6,000 for this route starting from mid-January.
Prices from Asia to the East Coast of North America have surged by 55%, reaching $3,900 per 40-foot container.
