The Houthis continue attacks on vessels transiting the Red Sea regardless of the attempts to settle the situation through the support of the military. Shipping crisis in the region keeps pushing container spot rates up.
For the third calendar week the Drewry WCI composite index has increased by 23%. The surge applies to rates from Asia to the U.S. ports (+40%) and to rates for European exports to Asia (+50%). On Asia–Europe routes rate increase peaked on the first week of January, currently it slowed to 12% for the Ports of the North Sea and to 21% for the Ports of the Mediterranean Sea.
From the beginning of crisis to the mid-December the cost of container delivery from Asia to Europe increased 3.5 times, to the North America – twice.
The carries continue to increase the rates: MSC and Hapag-Lloyd have announced further rate increase on Middle East/India – Europe routes in February.