As a result of the attacks in the Red Sea, the price of containers on Asia-Europe routes is rocketing.
Will 2024 be the year of a new logistics crisis for retail, as suffered in 2021? According to the Drewry World Container Index, the Asia-Europe rate for a 40-foot sea container has jumped from US$1,148 on November 21, 2023 – the week when the Houthis began attacking commercial vessels in the Red Sea in support of the Palestinians – to US$4,000 at the beginning of January. That’s an...