Shipping Rates to Israel, the U.S., and the U.K. Remain High a Year After Sanaa Forces’ Attacks Began
NYN | Reports and analyses
Shipping rates from East Asia to the United States, the United Kingdom, and Israel remain significantly elevated compared to last year, despite gradual declines over recent months. This is attributed to the ongoing inability to halt attacks by Sanaa forces on vessels associated with these destinations in the Red Sea, Arabian Sea, Indian Ocean, and even the Mediterranean.
According to the latest update from the global Drewry Container Index last Thursday, the cost of shipping a single container from Shanghai, China, to Los Angeles, USA, stands at $4,806, up by 110% from a year ago when Sanaa forces’ attacks on American and British ships had not yet begun.
The index also shows the shipping rate from Shanghai to New York is $5,233 per container, nearly double the rate from the previous year. Meanwhile, shipping from Shanghai to Rotterdam in Northern Europe currently costs $3,954 per container, marking a 211% increase from a year ago.
Earlier this year, shipping costs to the U.S. and the U.K. had surged by more than 300% before gradually declining, though not enough to return to pre-crisis levels.
Rates to Israel remain high as well, with the latest updates from Hebrew media showing the cost reaching approximately $4,900 per container in October, over three times the former rate of $1,200 per container.
The persistently high shipping rates to the U.S., U.K., and Israel highlight the recognized failure of efforts led by these countries to stop attacks by Sanaa forces in support of Gaza, whether through the “Guardian of Prosperity” coalition or ongoing air and naval strikes on Yemen.
Shipping costs have surged due to vessels bound for Israel, the U.S., and the U.K. rerouting around the Cape of Good Hope, adding up to $1 million in additional fuel costs. Insurance premiums for these vessels have also risen, now constituting 2% of the ship’s value, according to the latest report from Reuters.
The attacks on Israeli ships began on November 19 of last year, with British and American vessels later becoming targets in early 2024, in response to U.S. and U.K. strikes on Yemen.
