Red Sea Crisis Raises Freight Rates and Begins to Generate Container Shortages

The crisis in the Red Sea is significantly impacting international trade, raising freight rates, and causing container shortages. According to the Batic Freightos Index (FBX), spot rates on the Asia – Northern Europe route increased by 8%, reaching US$4,757/FEU, while rates on the Asia – Mediterranean route rose by over US$1,000, reaching approximately US$6,700/FEU. Shipping […]