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Ocean Freight

All articles tagged with #ocean freight

global-trade1 year ago

"Global Trade Disrupted as Soaring Freight Rates Hit Pandemic Levels"

A sudden shortage of shipping containers has caused ocean freight rates to spike dramatically, disrupting global trade. Factors such as peak shipping season, longer transit routes to avoid the Red Sea, and bad weather in Asia have exacerbated the situation. Ocean carriers are skipping ports and reducing port time, leading to fewer empty containers being available. This has resulted in increased costs for shipping consumer goods, with rates expected to rise further. The situation is reminiscent of the supply chain chaos during the COVID-19 pandemic, with logistics providers warning of continued challenges and higher costs being passed on to consumers.

via CNBC|
#container-shortage#global-trade#ocean-freight
business-shipping1 year ago

"Red Sea Crisis: Easing Ocean Freight Inflation and Container Planning"

The Red Sea crisis has caused a surge in ocean freight rates, but there are signs of relief as rates on key trade routes from Asia to the U.S. and Europe are beginning to decline. Despite ongoing maritime threats, data from Xeneta shows a slight decrease in rates, providing some relief for U.S. importers. However, rates are still significantly elevated compared to December. The timing of these rate decreases could impact negotiations between carriers and shippers, and upcoming manufacturing volumes out of Asia post-Lunar New Year may influence pricing for the rest of the year.

via CNBC|
#business-shipping#global-trade#ocean-freight
business2 years ago

Global Shipping Industry Faces Turbulence as Crises Disrupt Trade Routes and Inflate Container Rates

The ongoing Red Sea crisis, with vessels diverting due to the risk of attacks by the Houthis, has led to a surge in ocean freight prices, reaching as high as $10,000 per 40-foot container from Shanghai to the U.K. This, along with stranded cargo and rising air freight prices, poses threats to the global supply chain. Companies like IKEA and Danone are already experiencing impacts on product availability, while logistics managers are exploring alternative trade routes and transportation methods to mitigate delays. The situation highlights the need for transparency in cost increases and the importance of stable pricing and vibrant economies for generating demand.

via CNBC|
#business#inflation#logistics