Last week, freight rates on routes between Asia and the US East Coast and between Asia and Europe reached their highest levels since the summer of 2024, when the trade routes were effectively closed after a series of missile and drone attacks on merchant ships carried out by Houthi rebels in Yemen.
The price of a 40-foot container between China and the US East Coast rose to $7,880 last week, a 62 percent increase from a month earlier, according to freight platform Freightos.
Shipping prices between China and the Mediterranean rose by 47 percent to $6,431.
