Red Sea crisis pressures China’s exporters as delays, costs mount

The cost of shipping a container to Europe had surged to roughly US$7,000 from US$3,000 in December. — Reuters

FOR Chinese businessman Han Changming, disruptions to Red Sea freight are threatening the survival of his trading company in the eastern province of Fujian.

Han, who exports Chinese-made cars to Africa and imports off-road vehicles from Europe, told Reuters the cost of shipping a container to Europe had surged to roughly US$7,000 from US$3,000 in December, when Yemen’s Iran-aligned Houthi movement escalated attacks on shipping.