Container rates hit $10,000 as ocean freight inflation soars in Red Sea crisis
Publishing timestamp: 2023-12-21 19:58:00
Summary
Due to the risk of attacks by Houthis, shipping companies are diverting vessels away from the Red Sea, causing a shortage of ocean freight capacity and soaring prices. Companies like IKEA are experiencing delays in product availability, while others like Danone dispute reports of supply chain impacts. The situation is putting pressure on global logistics and supply chains, with concerns about price gouging and the need for transparency in cost increases. The duration of the re-routing and higher freight costs will determine the inflationary impact on the supply chain and eventually consumers.
Sentiment: MIXED
Tickers: MAERSK.B-DK, DANOY, GIAC, BN-FR, AMKAF, HLAG-DE,
Keywords: economy, world economy, ap moeller - maersk a/s, hapag lloyd ag, gesher i acquisition corp, trade, danone sa, breaking news: business, transportation, breaking news: economy, business news,