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Thus, the average cost of an urgent 40-foot container delivery between the Far East and Northern Europe last week was $4343, according to the analytical firm Xeneta.
When the Houthis began attacking merchant ships navigating the Red Sea in January, freight prices almost rose to their highest point. As a result, ship operators heading from Asia to Europe were forced to reroute their cargo to avoid Africa. The cost for the same kind of delivery in January was roughly $4.8 thousand.
The FT notes that there is typically a period of relative calm in global marine shipments throughout the spring. There is typically a spike in demand for shipping when stores start to aggressively prepare for the Christmas holidays in late summer or early autumn. Retailers chose to re-insure themselves this time around, though, since they anticipate that the attacks on merchant ships will last at least into the winter. As a result, delivery of the items will take significantly longer than usual.
source: ft.com
When the Houthis began attacking merchant ships navigating the Red Sea in January, freight prices almost rose to their highest point. As a result, ship operators heading from Asia to Europe were forced to reroute their cargo to avoid Africa. The cost for the same kind of delivery in January was roughly $4.8 thousand.
The FT notes that there is typically a period of relative calm in global marine shipments throughout the spring. There is typically a spike in demand for shipping when stores start to aggressively prepare for the Christmas holidays in late summer or early autumn. Retailers chose to re-insure themselves this time around, though, since they anticipate that the attacks on merchant ships will last at least into the winter. As a result, delivery of the items will take significantly longer than usual.
source: ft.com
