According to the international cargo booking platform “Freightos”, since January 2024, the cost of delivering one forty-foot container from Asia to Northern Europe has doubled and reached $4,000, while the delivery of the same container to the Mediterranean countries, where ships traditionally passed through the Red Sea and Suez Canal soared to $5,175, reports Reuters.

Head of analysts of “Freightos” Judah Levin noted that some carriers have already raised prices for shipping one container from Asia to the Mediterranean to $6,000 (since mid-January), and the practice of using surcharges ranging from $500 to $2,700 per container could push prices even higher.

The rise in prices was caused by the fact that many carriers redirected their ships bypassing the Red Sea; now container ships are heading to Europe not through the Suez Canal, but rounding Africa from the south due to political problems.

The cost of transporting goods on container ships traveling from Asia to Europe has risen sharply.

This lengthens each voyage by 7–20 days and leads to a shortage of container ships.

Shipping costs to North American ports have also increased. For the east coast of North America, the price increased by 55%, to $3,900 per container, and for the west coast - by 63%, to $2,700.