After attacks: cargo volume in the Red Sea collapsed

Repeated attacks by Houthi rebels on freighters in the Red Sea have far-reaching consequences for global shipping. The number of containers shipped fell by more than half in December, the Kiel Institute for the World Economy (IfW) announced yesterday, Thursday.

In November the volume was around 500,000 containers per day, but now it is around 200,000.

The route change of ships also has consequences: “The diversion around the Cape of Good Hope in Africa means that the time for the transport of goods between the Asian production centers and European consumers is significantly extended by up to 20 days,” he said Director of the Trade Policy Research Center, Julian Hinz. This is also reflected in the declining trading figures. The extended travel time has significantly increased freight rates. Transporting a standard container between China and Northern Europe currently costs more than $4,000, up from around $1,500 in November. However, the current price is still a long way from the fluctuations during the corona pandemic

According to the calculations, world trade fell by 1.3 percent from November to December after price and season adjustment: the EU will see a loss in both exports (-2.0 percent) and imports (-3.1 percent). predicted. The weak phase in Germany’s foreign trade also continues, with both imports and exports declining. China’s trade, on the other hand, has recently grown: exports (+1.3 percent) and imports (+3.1 percent) are pointing upwards. “One reason for this is likely to be the upcoming Chinese New Year, which is driving up trade sales,” it said.