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Europe-Asia Shipping Costs Surge Due to Houthi Attacks in the Red Sea

The cost of shipping a standard 40-foot container from Asia to northern Europe now costs around $4,000, a whopping 173% increase from just a few weeks ago.

Average freight costs from the rest of Europe to/from China have gone up almost as much during the same period, jumping from $1,029 to $2,694 per container, according to the benchmark Shanghai Containerized Freight Index.

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