Trans-Pacific freight rates hit $9,500

Trans-Pacific container shipping rates have surged to $9,500 per unit for East Coast-bound cargo, as escalating tensions in the Middle East and severe congestion at Asian ports tighten capacity and push fuel costs higher. Freightos, a shipping analytics firm listed on NASDAQ under the ticker CRGO, reports that bunker fuel prices have rebounded to mid-year levels following Iran’s announcement of a wider exclusion zone near the Strait of Hormuz. The move, part of a broader pattern of regional instability, has heightened risks for vessels transiting one of the world’s most…

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