"Why the price increase?The war in the Red Sea, what does it matter to me in Dubai".
Recently, everyone has been paying close attention to the current situation in Yemen on the Red Sea.
Two days ago, I read some related tweets, saying that the 40HQ freight rate of Israel's port has increased by 6 times, pushing to about 6k US dollars, and I was still surprised at the time: "Huh?".Why is it so high?”
After 1 day, I asked about the ports related to Israel, and 6k was no longer available. Then the Red Sea has risen to more than 7k. The last time I saw the Red Sea at this price point was in the middle of 2022, when the epidemic had not yet opened. It's been a long time since the Red Sea reached such a high level.
As a result, freight rates in the Middle East have also begun to rise. Judging from the map, the UAE is in the Persian Gulf and does not pass through the Red Sea, but the customer does not understand why the price should be increased without passing through the Red Sea. In fact, in essence, it is still the relationship between supply and demand.
When the Red Sea began to be suspended, another option for major shipping companies was to travel from East Africa to South Africa, to the Cape of Good Hope, to West Africa, to Europe, or from the Strait of Gibraltar near Tangier to the Mediterranean, the Black Sea, and North Africa. The overall shipping schedule needs to be increased by more than 20 days.
In order to meet the freight demand of the ocean line, the shipowner will mobilize more ships from other routes to invest there. **Decrease, the cost is rising, so the recent freight is also rising. In addition, this time node has also reached the peak season of the annual freight cycle, so there will be a very tight situation, so the freight is constantly rising.
I adjusted it at 2 p.m. and adjusted it again at 6 p.m."
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