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We show how big the problem is in the Red Sea – is this the reason for the US bombing?

We show how big the problem is in the Red Sea – is this the reason for the US bombing?

We have written in our previous articles about how the attacks of the 1920s on the Red Sea could have a serious impact on the entire global economy by increasing shipping duties. Although not a single ship sank as a result of the events of the 1920s, and fortunately there were no deaths, the high prices are still shocking.

Drewry is a logistics consulting firm that monitors ocean freight rates Container indicator It rose from $1,382 on November 30, 2023 to $3,072 on January 11 – the last day before the US-British air strikes.

Durie container indicator. Source: Diori

In the case of the routes departing from Shanghai, it is clear on which routes the chaos surrounding the Suez Canal is a real problem. The largest increase occurred on the Shanghai-Genoa route, where the cost of delivering a container rose from about $1,300 to more than $5,200. There was also a similar increase in prices between Shanghai and Rotterdam of more than a dollar. Compared to these prices, the Shanghai-Los Angeles route was very friendly, going from $1,900 to “only” about $2,800.

Prices of some shipping methods from Shanghai.  Source: Diori
Prices of some shipping methods from Shanghai. Source: Diori

These figures also show the staggering impact of what happened on global trade, especially on supply from Europe. In the short term, the escalation of the conflict, that is, the American-British bombing, may not improve the situation either, if it is not possible to inflict a decisive and lasting defeat on the Twenty-somethings, or persuade them to abandon their struggle. procedures.

Prices could rise further: MSC, one of the largest shipping companies in the world, is offering a “transportation” from China to the East Coast of the USA for $6,700 in the second half of January.

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