MoIT meets with businesses to discuss Red Sea transport crisis

February 06, 2024

According to the Vietnam Maritime Administration, ship freight rates remained high. In January 2024, container shipping rates to the United States and Canada by sea have significantly increased compared to December 2023. Freight rates to the European market recorded a sharp increase compared to December 2023, with rates to Hamburg being $1,200-$1,300 in December 2023, rising to $4,350-$4,450 in January 2024. In a response to difficulties faced by Vietnamese businesses, the MoIT has issued a number of documents advising associations, logistics service enterprises, and import-export businesses on solutions to mitigate the impacts of the Red Sea situation. To minimise the negative impacts on Vietnamese businesses, management agencies, associations, and businesses during the meeting have proposed solution to stabilise freight rates and transportation fees.

The source of this news is from Vietnam News