Connect with us

Hi, what are you looking for?

video

UNCTAD says container freight rates surged due to Suez Canal crisis

Container Freight Rates
Business News Report

UNCTAD says container freight rates surged due to Suez Canal crisis

-The Suez Canal traffic suspension has triggered a new surge in container spot freight rates, UNCTAD said

-The agency says it will examine the unprecedented shortage of containers hampering trade’s recovery

-The new hike poses a challenge to world trade since shipping rates are a major component of trade costs

-Many businesses will not be able to handle higher rates and will pass them on to customers

-The pandemic-caused changes in consumption patterns have led to increased import demand

-The demand increase was stronger than expected and not met with a sufficient shipping capacity, UNCTAD said

Will prices continue to rise or this is only a temporary crisis?

Finance

The Egyptian trade balance deficit decreased last March by 25.2% on an annual basis, amid a rise in exports at a higher rate than...

Business

Vodafone Egypt intends to pay exceptional dividends to shareholders during 2021, according to an agreement with Telecom Egypt, which owns large stakes in Vodafone....

Business

The Arab Republic of Egypt has added the delivery service by electronic orders to the list of services and goods covered by value added...

special

The value of Qatari investments in Egypt has increased during 2020, after recording $679.4 million, compared to $382.2 million in 2019. This is a...