The global shipping industry is facing a common crisis, with both the Suez Canal and the Panama Canal being blocked and unable to pass through normally.

The Panama Canal was restricted due to dry water in 2023 and is expected to be lifted by 2025. The transportation restrictions of the Suez Canal are relatively complex. The unstable situation in the Middle East has led to a large number of ships having to detour around the Cape of Good Hope. It is currently unpredictable when normal operations will resume, which is also the main reason for the increase in shipping costs. From a data perspective, the container costs in April 2024 were 2.9 times higher than those in November 2023, although lower than the peak during the pandemic. However, the sea freight was not smooth, and the rapid increase in shipping costs was evident. According to the analysis of the International Monetary Fund, the deterioration of the situation in the Middle East has led to a 15% increase in oil prices, and it is expected that container shipping costs will increase by more than 2.5 times from 2024 to 2025.