The recent surge in Shipping rates is something to keep monitoring for some time because it could have an impact on inflation eventually.
Short-term rates for container shipping between Asia, Europe and the US are climbing on reduced capacity caused by the threats to cargo vessels in the Red Sea.
- In the 10 days through Jan. 2, the number of Suez transits was down 28% from a year earlier. That’s consistent with 3.1% of global commerce being diverted away from the Red Sea, according to the data.
- Prices surged almost 200%
- Services from Asia to northern Europe and to the Mediterranean both cost more than twice their levels in January 2019, but are still well below their peaks during the Covid-19 pandemic, said Judah Levine, head of research at Freightos.
https://www.bloomberg.com/news/articles/2024-01-04/spot-container-shipping-rates-soar-173-on-red-sea-diversions?utm_source=website&utm_medium=share&utm_campaign=twitter