Air freight rates soar as Middle East conflict blocks trade routes - Reuters
Air freight rates soar as Middle East conflict blocks trade routes Reuters
Coverage by Political Leaning
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Notable Quotes
"a flurry of new surcharges"
— head of the Global Shippers Forum , Executive
"Both importers and exporters are suffering due to higher freight rates."
— Vipin Vohra , Executive
"We are seeing war-risk surcharges reaching around $2,000 for a 20-foot container and about $4,000 for a 40-foot container."
— Krishnakumar Nair , Executive
"It's a complete standstill of the supply chain to the Middle East."
— Abdol Moabery , Executive
"Businesses in the US need to be aware... but the impact won't be as immediate as if you were in Europe, Asia, or Australia."
— Brian Bourke , Executive
"certain bottlenecks may emerge in Southeast Asia and China for products destined for the European and US markets."
— Stefan Paul , Executive
Key People
CEO of Florida-based GA Telesis, a provider of aircraft parts and repair services.
Chief Commercial Officer at SEKO Logistics.
The leader of an organization representing global shipping interests.
Director at Alton Aviation Consultancy.
Founder, chairman, and managing director of Kenshine Group.
Nii Larte Lartey is a writer covering regional news.
CEO of the Swiss logistics group Kuehne+Nagel.
Chairman of Continental Group and managing committee member at PHDCCI.
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<a href="https://news.google.com/rss/articles/CBMiuAFBVV95cUxPTkZfZU9RSndod0xvZ29yLV9seUNzNlY5ZzhFMm1WNWtrZEtDUTlnel9CMG1xcVhqd1ViZkt0dF9tZG5xaGlsVzc0ekNrNXpNT3BlVUZqNkloYmlLOExPcWhQN2VhejdrQTFiTDJNNG04WC1zX3BDUEMtbGowRXYxcWQ4czVma1p1X2VRTlM4Sk5UNE1aYWd5ZFp0WjZpSnUzal9HVElKSFhCSUtrbEF0OWZEWGt1d3hB?oc=5" target="_blank">Air freight rates soar as Middle East conflict blocks trade routes</a> <font color="#6f6f6f">Reuters</font>
Air freight rates from Bangladesh to Europe have tripled, and those to the US have nearly doubled, due to flight cancellations and capacity shortages caused by the Middle East conflict.
Air and sea freight rates have risen sharply, with air freight charges increasing by nearly 250-300%, despite the Indian government's efforts to waive certain import procedures.
The Middle East conflict has led to a 39% drop in Asia-Europe air freight capacity through regional hubs, causing freight rates to soar and threatening supply chain bottlenecks.
The Ghana Shippers’ Authority warns of higher freight rates, extended transit times, and supply chain disruptions due to the Middle East conflict, with shipping lines suspending or rerouting vessels.
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