HÀ NỘI Ongoing tension in the Red Sea has hiked freight rates and increased the possibility of delays, warned the Ministry of Industry and Trade. The tension in the Red Sea could lead to additional costs of US$1,000 to $2,000 for a container passing through to Europe. Similarly, shipping company CMA CGM is considering charging $2,700 per container to cover the costs of loading or unloading at ports in the Red Sea. Even before the Red Sea crisis, shipping companies had planned to raise freight rates or even double them in some cases before the Lunar New Year in February. Recent incidents of attacks on cargo ships in the Gulf of Aden and the Red Sea have led some shipping companies to announce the suspension of cargo transportation through the Red Sea, rerouting around the Horn of Africa.

Source: Viet Nam News January 09, 2024 14:01 UTC