Container Costs Rise As Shippers Skip Dangerous Suez Canal, Stress Over Trump Tariffs
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 15 2024
0mins
Source: Business Insider
- Rising Shipping Costs: The cost of shipping a 40-foot container from Shanghai to New York has surged to nearly $10,000 due to longer routes taken by cargo ships to avoid Houthi rebels in the Suez Canal, leading to higher shipping rates.
- Impact on Importers and Stock Market: Importers are rushing to ship goods to the U.S. amid fears of potential tariffs if former President Donald Trump wins the 2024 election. Exchange-traded funds tracking shipping container stocks saw mixed movements in late-afternoon trading.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
