Trade
Spot Container Shipping Rates Soar 173% on Red Sea Threats
- Suez traffic is down 28% in past 10 days, IMF PortWatch says
- Risk of congestion rises heading into Chinese Lunar New Year
The spot rate for shipping goods in a 40-foot container from Asia to northern Europe now tops $4,000.
Photographer: Bing Guan/BloombergThis article is for subscribers only.
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Short-term rates for container shipping between Asia, Europe and the US are climbing on reduced capacity caused by the threats to cargo vessels in the Red Sea.