Nothing like profiting off of a war. Shipping rates have skyrocketed this week due to the conflict in the Red Sea, as Houthis rebels attack ships.
Now about 158 vessels carrying approximately $105 billion in ocean freight are being diverted away from the Red Sea amid the risk, and where there is risk there is the opportunity to raise prices.
That’s exactly what shipping companies like Maersk are quoting ocean freight rates of $10,000 per 40-foot container for a shipment from Shanghai to the U.K. Last week, rates were $1,900 for a 20-foot container, to $2,400 for a 40-foot container.
‘Tis the holiday season to raise rates I guess.
Container rates hit $10,000 as ocean freight inflation soars in Red Sea crisis