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Ocean freight soars in Red Sea crisis

Attacks by Yemen's Iran-aligned Houthi militants on ships in the Red Sea are disrupting maritime trade and prompting shipping companies to reroute around the Cape of Good Hope to avoid the Suez Canal. Several major shipping lines,including MSC, have begun to sail around Africa instead, adding costs and delays (14-15 days) which are expected to be compounded over coming weeks, according to industry analysts. Freight rates drastically increased starting from the end of December 2023, because of Red Sea crisis.

Following are rates from MSC:

40 FHC KOBE, JAPAN- JEBEL, ALI, UAE - was 1,188 usd- become 4,951 usd

40 FHC KOBE, JAPAN- POTI, GEORGIA -was 3,800 usd- become 7,901 usd

40 FHC KOBE, JAPAN -ROTTERDAM, NETHERLANDS- was 1,333 usd- become 6,518 usd

40FHC KOBE, JAPAN- BREMERHAVEN, GERMANY- was 2,641 usd- become 6,564 usd


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