Red Sea turmoil – should we be concerned?

Asian Agribiz Podcasts

Shipping is once again experiencing disruption, this time because of escalating turmoil in the Red Sea. With large freighters, especially from Europe, forced to use a much longer alternative route, freight charges are once again escalating. Already we see the challenges and added costs it has created in shipping equipment to Indonesia. Asian producers also import farming equipment, feed additives and supplements, and animal protein products from Europe. The Red Sea is a crucial area in global shipping. Elizabeth Thang of S&P Global told Asian Agribiz the recent tensions spiked container prices from USD 1500/ton on December 21 to USD 6000/ton on January 10.