THE global shipping industry has experienced a significant surge in rates over the past couple of months, as a result of the Red Sea crisis.
Three months into this crisis, container leasing rates on the China-US trade route have surged dramatically – in some cases tripling in cost.
The significant spikes in shipping rates signal a notable shift in the supply-demand dynamics for freight services and containers, with demand recovery and capacity being increasingly tied up as the longer shipping transit times between the US and the Asia Pacific via the Cape of Good Hope increase by two to…
