Rising shipping costs to Israel amid conflict and Houthi attacks

20 Dec 2023 CW Team

The recent days have seen an increase in the shipping costs of goods to Israel by sea, with some container lines withdrawing and others introducing additional surcharges. This is contributing to supply chain challenges for the country amid the conflict in Gaza, according to shipping sources.

Israel, heavily dependent on seaborne trade, had announced in October that it would compensate for ships damaged during the conflict with the Hamas group. However, it has not specified whether it will cover additional shipping expenses.

Houthi militants in Yemen, backed by Iran, have intensified attacks on vessels in the Red Sea to express support for Hamas following the onset of Israel's military offensive in Gaza. In response, some shipping companies have rerouted sailings around the Cape of Good Hope or suspended transits through the Red Sea. The attacks have added pressure to companies still providing sea transport to Israel.

The Houthis have expanded their target criteria to include vessels that were no longer associated with Israel, according to British maritime security company Ambrey.

Ocean freight rates from various Chinese ports to Israel rose to over $2,300 for a 40-foot container by December 12, compared to around $1,975 at the end of November, according to analysis from global freight platform Freightos. Freightos CEO Zvi Schreiber noted that the route around Africa is significantly longer and incurs higher fuel costs compared to the Suez Canal route.

Evergreen Line and OOCL have temporarily stopped accepting Israeli cargo due to operational issues, while AP Moller-Maersk has imposed an emergency risk surcharge for all cargo discharged at Israeli terminals.

Building Material

11 Dec 2025

Suraj Estate Wins Euromoney Award for India’s Best Residential Developer

"Suraj Estate Developers Limited has received the Euromoney Real Estate Award 2025 for ‘India’s Best Residential Developer’, positioning the company among globally benchmarked leaders in the sector. The recognition reflects its four-decade legacy in delivering high-quality residential and redevelopment-led projects across South Central Mumbai. The Euromoney Real Estate Awards, presented by the London-based Euromoney magazine, are widely regarded as one of the most credible global assessments of performance in real estate, banking and finance. Winners are selected through surveys of inte..

Lloyds Metals, Tata Steel Sign MoU to Explore Strategic Collaboration

"Lloyds Metals and Energy Limited has signed a non-binding Memorandum of Understanding with Tata Steel Limited to evaluate potential areas of strategic cooperation across mining, logistics, pelletisation and steelmaking. The MoU was signed by B Prabhakaran, Managing Director of Lloyds Metals, and Mr T V Narendran, CEO and Managing Director of Tata Steel. The partnership framework aims to leverage the natural operational synergies between both companies and assess opportunities in greenfield steel projects, iron ore mining, slurry pipeline infrastructure, pellet manufacturing in iron ore–ric..

IndiaAI, Gujarat Govt Host Regional Conclave Ahead of 2026 AI Summit

The IndiaAI Mission under the Ministry of Electronics and Information Technology, along with the Government of Gujarat and IIT Gandhinagar, convened a Regional Pre-Summit Event at Mahatma Mandir, Gandhinagar. The initiative is part of the build-up to the India–AI Impact Summit 2026, scheduled for 15–20 February 2026 at Bharat Mandapam, New Delhi. The conclave brought together senior policymakers, technology leaders, researchers and industry practitioners to examine how AI can accelerate economic, digital and social transformation across sectors. The programme focused on the overarching th..