Multiple shipping companies may reroute around the Cape of Good Hope, and shipping costs could rise

Reporters learned that due to the Middle East situation, delivery times for products sent to the Middle East have become less stable. Yiwu market trader Tao Juying said that in addition to actively maintaining communication with Middle Eastern customers, she also made early plans for her business to minimize the impact on the company’s trade. Besides market traders, buyers are also taking countermeasures. Yun Feiyang, a buyer from Turkmenistan, told reporters that considering his country’s border with Iran, he has changed the shipping method from sea freight to land transportation to ensure the products arrive on time. A freight forwarder told reporters that due to the Middle East situation, many shipping companies are likely to choose to reroute via the Cape of Good Hope, which is expected to add two weeks to the voyage, and sea freight costs will also rise. They are also planning alternative solutions for enterprises. (CCTV Finance)