Shipping Rates Surge, Red Sea Reopening Looms

East Coast shipping rates fluctuate, with a three percent dip followed by a swift three hundred dollar increase per forty-foot equivalent unit. Asia to North Europe and Mediterranean lanes see significant rate hikes, surpassing two thousand seven hundred and three thousand eight hundred fifty dollars respectively. Lunar New Year and Red Sea diversions contribute to the surge. Tighter carrier capacity and growing demand are cited as key factors, while potential Red Sea reopening could cause short-term market disruption but long-term pressure on prices.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.