Due to the conflict in the Middle East: container shipping in the Red Sea is decreasing

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Currently, around 40 container ships sail through the Red Sea every day; last year there were an average of more than 100, the Kiel Institute for the World Economy (IfW) announced on Monday in its Trade Indicator. After the number of ships has risen again to around 50, the low point of mid-January is now close.

However, according to the institute’s estimate, the consequences for the ports on the North Sea are decreasing. According to the institute, in December last year and January this year, about 25 percent fewer ships moored in Hamburg, Bremerhaven, but also in Rotterdam and Antwerp, but by February this difference had been reduced to about 15 percent.

Freight rates for the transport of a standard container from China to Northern Europe also stabilized. Since peaking at $6,000 per container in mid-January, the spot price has fallen steadily to currently around $4,500.

According to the institute’s assessment, shipping companies are now likely to deploy more ships due to the detour to guarantee tight port schedules. The number of container ships at sea daily increased slightly by 0.3 percent between January and February and is currently around 5,450 ships.

By shelling ships in the Red Sea, the militant Islamist Houthis want to force an end to Israeli attacks in the Gaza Strip, which followed the October 7 massacre by the Islamist Hamas in Israel.

Given the dangers, major shipping companies avoid the shortest sea route between Asia and Europe. To protect the shipping lane, the US, Britain and their allies are now repeatedly attacking Houthi targets in Yemen. (SDA)

Source: Blick