Ezz_steel1
kuwait_steel1
imatal4
Ezz_Web_Banner_Side_280x200
qatar_steel2
banner_bahrian_300
banner_bahrian_600
Metal_expert_6_2022

The Covid pandemic raises shipping prices to record levels – economy – Arab and international

Container freight prices rose to record levels about 18 months after the outbreak of the Covid pandemic, which disrupted supply chains and increased demand for sea freight very dramatically.

“We’re basically short on empty ships and containers,” Alan Murphy, president of consultancy Sea Intelligence, told AFP.

“There is a huge shortage of empty containers, they are in the wrong place and stuck in distant ports that are not available in Asia” to load them with goods, he added.

The London Baltic Shipping Index, which monitors in cooperation with the Freightos Group in Hong Kong, the price of transporting 40-foot containers across 12 major shipping lines, has more than tripled in a year to reach about $7,000 for a container transport from China to the West Coast of the United States. .

As for the cost of transporting a container to Europe, it reached ten thousand dollars, compared to only 1,600 in the same period last year.
Murphy pointed out that this unprecedented situation compounded the difficulties experienced by the sector in the past ten years, which were “very bad for shipping lines.”

He pointed out that the excess capacity in the sector made shipping companies “lose money every time they transport a container.”

 

Share on twitter
Twitter
Share on facebook
Facebook

Related News

Ezz-780-1
kuwit-steel3
mih-1

Latest News

About AISU

Arab Iron and Steel Union ( AISU ) was established in Algeria in 1971 as the first Arab union of Arab countries to be established under the umbrella of the Council of Economic Unity in the League of Arab States.

AISU is a non-governmental organization of a private nature, not of a political or commercial nature.

AISU works in the field of preparing studies, organizing courses and holding periodic conferences for the prosperity of the Arab iron and steel industry. The union includes a wide range of companies with multiple activities related to the iron and steel industry.

Information About Union

92 Members

28 Board of Directors

17 Country

300.000 Employees

Subscribe Newsletter

Contact us

General Secretariat
Tel +21323304221 Fax +21323304254
Mail: relex@solbarab.org

Cairo Regional Office
Tel +20233356219 Fax +20233374790
Mail: aisucairo@solbarab.org

All rights reserved Arab Iron and Steel Union | 1971 - 2022

Powered by Mohamed Hamed