Shipping Concerns
Shipping issues were already a real burden for exporters and importers and it is probably getting worse. The threat of container shortage is spreading and it will cause another increase in freights. Tensions of Red Sea are also troubling traders since they can’t use some routes as before.
In addition to shipping issues, geopolitical tensions from the two expanding wars of Ukraine-Russia and Israel-Hamas are increasing the risks. Even Europe is now warning about the Ghaza war and its risks.
In the Middle East, the new steel drum bitumen was in the range of $ 360 – $ 365 and the bulk bitumen was in the range of $ 280 – $ 285. The bulk of Singapore is volatile in the range of $ 430 – $ 435 and South Korea is currently $ 410 – $ 415. Bahrain bulk recorded 360 USD at the end of the year.
