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Shipping Disruptions in the Red Sea: Ripples across the Globe
Recent attacks on cargo vessels in the Red Sea have disrupted a major shipping lane. This analysis looks at the impact on shipping costs and global trade flows.
How U.S. Import Shipping Costs Vary across Countries and Industries
Shipping costs vary greatly across countries and industries. So surging costs likely have a greater impact on imports from distant sources and imports of large, low-value goods.
Journal Article
Inflation and Shipping Costs
Imports that are more reliant on ocean freight have seen higher import price inflation since the start of the pandemic.
Do Congested Ports Cause Higher Shipping Costs?
An analysis of changes in the cost to ship to major U.S. ports suggests that rising costs varied more by the country of origin than by the port of entry.
The Dynamics of International Shipping Costs
Is the recent rise in international shipping costs due to higher demand for goods during COVID-19, or are other disruptions also at play?
Report
The Impact of Global Shipping Cost Surges on US Import Price Inflation
Global shipping costs have soared to record highs in recent years. Costs spiked during the COVID-19 pandemic, driven by supply chain disruptions, labor shortages, and port congestion. Costs had eased by mid-2023, but they began rising again later that year and into 2024 due to Houthi violence off the coast of Yemen that restricted access to the Suez Canal and a drought at the Panama Canal that limited vessel traffic and forced rerouting around the Cape of Good Hope. As global shipping costs have soared, US import prices also have increased.