The president of the Dominican Federation of Merchants (FDC), Iván García explains that goods prices are increasing partly due to higher freight costs. Freight costs for ships from Asia are impacted by the drought in Panama that affects the passage through the Panama Canal and actions as of November 2023 taken by Yemen’s Houthi rebels attacking commercial vessels in the Red Sea. The drought in Panama has caused delays in ships passing the Canal. The violence in the Red Sea has forced ships to detour thousands of miles off the shorter routes. Both situations have led to an increase in maritime transport costs.
Garcia says the cost of freight for 40-foot containers from China, for which US$2,800 was paid in October and December 2023, is currently US$3,900 on the route that lasts between 45 and 60 days.
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Diario Libre
10 January 2024