Container shipping prices through Europe, Asia and America ‎jump 173%‎

Short-term container shipping rates between Europe, Asia and America witnessed a significant jump in light of the decline in carrying capacity due to the threats facing cargo ships in the Red Sea.

According to Freightos.com, the spot price for shipping goods in 40-foot containers from Asia to Northern Europe jumped by about 173% to $4,000, compared to the levels before the rerouting in mid-December, while the cost of shipping goods from Asia increased. To the Mediterranean Sea to $5175

Some entities also requested prices higher than $6,000 for periods starting in mid-January, with prices from Asia to the East Coast of the United States rising 55% to $3,900 for a 40-foot container.

The head of research at Freightos said that the cost of services from Asia to northern Europe and the Mediterranean is more than double its levels in January 2019, but is still below its peak during the Corona pandemic.

Another separate price measure, the Drewry World Container Index, showed that the cost of shipping from China to Europe has doubled since December 21, while shipping rates from Shanghai to Los Angeles increased by 30%.

The tensions that took place in the Red Sea prompted some shipping companies to suspend sailing in the Red Sea and choose the Ras al-Rijal al-Saleh route instead. A number of companies also announced additional fees on the goods they transport to and from the Middle East in light of the increased risk.