Connect with us

Hi, what are you looking for?


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?


Cairo, the capital of Egypt tops the list of worst ten cities in the world in terms of  levels of pollution for air, light...


LORD International company’s workers in Alexandria has started a strike protesting working conditions and demanding their rights while the administration refuses to negotiate with...


The Egypt Mineral Resources Authority (EMRA) has announced signing four contracts with the Canadian Barrick Gold Corporation, the second largest mining company in the...


Egypt’s central bank has announced the allocation of 100 billion pounds to finance the real estate sector in the country as part of a...