THE BIG PICTURE
Sea attacks continue, we can expect the disruption, and the costs, to keep rising. 2 • Price rises in China and beyond Regional conflicts such as the Houthi rebels are just one of many variables that cause the cost of maritime freight to rise. Hiccups in a tightly organized system create big repercussions down the line, and 2024 has seen prices for some routes jump significantly due to the various threats and obstacles faced by shipping. Sending a 40-foot shipping container from China to Europe has increased by an average of US$1,200-US$7,000 since October 2023. Similar rises have been seen on other routes, including shipping goods across the Pacific. 20-foot containers sent between Shanghai and Europe have risen from just under US$800 up to around US$4,000 since the first seizure of a cargo ship by Houthi rebels.
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