Over 4 million more containers on almost 300 ships are now transported around the Cape of Good Hope instead of through the Suez Canal and the Red Sea, reports Bloomberg.
The threat from the Iran-backed Houthi movement in Yemen means that a number of shipping companies do not take the chance of sending their ships through the Red Sea.
The route around Africa involves a 25 percent longer route between Asia and Europe than the route via Suez, and the rising costs could become an element of unrest for the world economy.
Now the price of transporting a container from Asia to Europe has tripled to $5,000, says Judah Levine at Freights to Bloomberg.
Danske Maersk has recently decided to send its ships through the Suez Canal again after the US has created a force to patrol the Red Sea.
2023-12-30 09:35:32
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