Global shipping prices stabilising in wake of Suez disruption, but at higher level
GLOBAL shipping prices are starting to stabilise, after rising for several months due to Red Sea tensions – but they may settle at a higher level than before, said industry observers.
Lian Hoon Lim, managing director at consulting firm AlixPartners, said: “The general consensus is (that stabilisation is happening) because supply and demand of shipping capacity is coming back into balance after the initial shock.”
Container shipping prices rose dramatically in the last quarter of 2023, after Houthi rebels began attacking ships in the Red Sea in protest against Israel’s war in Gaza.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Sembcorp announces long-term power purchase agreements with Equinix
Hot stock: Singtel down about 3.3% after announcing S$3.1 billion impairment hit
Dubai begins construction of ‘world’s largest’ airport terminal
Hot stock: Seatrium up 5.6% on S$100 million share buyback programme
Gold eases as steady US dollar dampens appeal
Perpetual in talks with KKR for corporate trust and wealth management unit sale