What the numbers say: According to Drewry Shipping Consultants, average global shipping costs for a 40-foot container rose 23% to $3,777 in the week ending Jan. 18, doubling in the past month. Spot-market rates for shipping a container from China to Los Angeles increased 38% to $3,860, while maritime traffic through the Suez Canal fell 37% in 2024, leading significant carriers to reroute ships around Africa, adding over a week to transit times. Relevance: Global shipping route disruptions, notably in the Suez Canal, are causing supply chain delays and higher transportation expenses, aggravated by Houthi rebel attacks in the Red Sea, resulting in increased volatility and shipping difficulties. This affects multiple industries, leading to production suspensions and logistical challenges for manufacturers and retailers. More data: Ongoing Houthi attacks on commercial vessels have prompted some European apparel companies to shift to airfreight and restrict vessel transit through the Panama Canal due to a drought impacting freight flows. Manufacturers, including Tesla and Volvo, suspended production due to part shortages from shipping delays. #Data is beautiful