Global container shipping rates have risen sharply as the conflict between the United States and Iran continues to disrupt energy supplies, increase marine fuel costs and put pressure on global supply chains.
According to data from Xeneta and Drewry, freight rates on major routes from Asia to the United States and Europe have climbed significantly since the conflict began on February 28, with some routes recording increases of more than 100%.
The latest Drewry World Container Index showed that shipping a 40-foot container from Shanghai to Los Angeles cost $4,565 this week, while the rate from Shanghai to New York reached $5,505.
Xeneta data showed the spot rate from Asia to Northern Europe rose 27% over the past week to $3,649, while rates from Asia to the US West Coast increased 20% to $3,933.
The freight analytics firm said rates from Asia to the United States have surged 109% since the start of the conflict, while rates from Asia to Europe have increased by more than 50%.
Peter Sand, chief analyst at Xeneta, said freight markets are increasingly reflecting concerns over the impact of the conflict on energy supplies and global trade.
A major factor behind the rise in freight rates
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