TREE NEWS update: Middle East shipping prices have jumped sharply since late July, with a 40-foot container from Shanghai to Dammam rising from around $6,600 to over $10,000, a gain exceeding 50%. The surge is driven by geopolitical tensions blocking the Strait of Hormuz and Bab-el-Mandeb, prompting carriers to reduce capacity and reroute, alongside higher fuel costs and port congestion.
Middle East shipping rates surge over 50% amid Red Sea tensions
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