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Global shipping costs surge with key ports showing signs of adaptability

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Port of Colombo

In the first half of 2024, global shipping costs experienced a significant surge, influenced by a mix of operational and geopolitical challenges.

These included disruptions in crucial maritime corridors such as the Red Sea, Suez Canal, and Panama Canal, alongside extended shipping routes and increased costs for fuel and insurance. These elements combined to exacerbate freight rate volatility.

 

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Alexandros Itimoudishttps://container-news.com/
Shipping Analyst
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