Carriers accused of exploiting Red Sea attacks to raise prices

Container rates have risen much more than carriers’ costs as a result of the attacks on merchant ships in the Red Sea, an OECD report concludes.
Maersk and other container shipping companies have introduced surcharges in the wake of the Red Sea crisis, OECD organization points out. | Photo: Manuel Hernandez/Reuters/Ritzau Scanpix
Maersk and other container shipping companies have introduced surcharges in the wake of the Red Sea crisis, OECD organization points out. | Photo: Manuel Hernandez/Reuters/Ritzau Scanpix

A new report written by the OECD organization International Transport Forum on the impact of the Red Sea crisis has concluded that freight rates have skyrocketed much more than the shipping companies’ costs of rerouting ships south of Africa to avoid attacks.

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