Freight charges skyrocket 150% in Pakistan amid Red Sea crisis

The Red Sea trade crisis has led to a 150% surge in freight charges in Pakistan, posing a significant threat to the export of major commodities, including textiles, rice, and fruits and vegetables. Speaking to a group of journalists on Tuesday, All Pakistan Shipping Association (APSA), Chairman, Aasim A Siddiqui revealed that freight charges have, on average, risen from $1,500 per container to $2,500 per container in the aftermath of the maritime trade crisis on the East-West route. Before the crisis erupted due to the Houthis in Yemen attacking cargo vessels against Israeli aggression on the Palestinian people in Gaza, freight charges stood at around $1,000 per container. The extended travel routes via Africa to reach Europe and America, undertaken by vessels to avoid the crisis, have increased delivery times, led to a shortage of empty containers, and caused demurrages in numerous countries, including Pakistan.