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biggest shipping firms, maersk and hapag lloyd. later today, the un security council is expected to meet and produce a diplomatic response. the red sea accounts for 15 percent of the world s shipping and plays a crucial part in the global supply chain. uk companies have been telling the bbc that shipping delays could push up prices. let s speak now to zvi schreiber, the ceo of freightos, an online marketplace for the international shipping industry based in israel. one in five might not sound that dramatic. is it? well, yes, it s usually dramatic. to put in context, there s about 4.5 million 20 foot containers equivalent going back and forth through the suez canal, and daily this is changing. there s a couple of days of quiet, when they start getting rooted through the suez canal again, getting rooted through the suez canalagain, and getting rooted through the suez canal again, and then there s a rocket attack and ships are either being told to stop and wait till their ....
Prices, before new year with shown prices drop on the suez route, as 30% increase, but it s a very volatile industry and that s not considered a dramatic increase, but over the new year prices shot up to over the new year prices shot up to over m000. we will see that sticks or not. that is already a substantial price increase, you could see a little bit of that passed on to consumers if the price to stay so high. in terms of prices and supply, it s worth pointing out that fortunately we are after the holiday season, so the peak season of shipping as the lead up to christmas and thanksgiving at the us, that is past, sewing general then network has spec tasks back capacity now. there was a big shortage of shipping capacity due to covid, but there is over shipping capacity now, so the network is able better to cope. it will not be ....