Paolo Gentiloni, the European Commissioner for Economy, reports that cargo diversion as a result of the attacks in the Red Sea made the cost of shipping goods from Asia to Europe grow up by 400% and the time increase by 10-15 days.
The International Maritime Organization reports that, due to the attacks in the Red Sea, the number of ships able to move through the Suez Canal dropped down by 36%, and the reduction of cargo reached more than 60%. Fuel costs and the cost of ship insurance have significantly increased.
NH Logistics GEO has been offering IOR Importer of Record and EOR Exporter of Record services since 2001 and is a market leader in Georgia and Eurasia, supporting many clients with their import/export shipments.
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