Container rates may peak amid fuel cost rise
Container shipping prices from China to the US East Coast have risen significantly, reaching $10,948 per 40-foot container—more than four times their levels before the Iran conflict. The rates are approaching the highest levels recorded during the COVID-19 pandemic disruptions. Analysts explained that current prices reflect increased fuel costs resulting from the ongoing war between the United States and Israel over Iran, which threatens to drive up transportation costs and oil prices. The price of a barrel of American crude has surpassed $105, marking the highest level since May.
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