Global freight rates have been trending downward over the past two months as global trade slows down, said the president of the Jordanian Logistics Association, Nabil AlKhatib.
AlKhatib stated in an interview with the Jordan News Agency on Monday that shipping costs continued to decline due to a drop in global demand and relatively stable crude oil prices, indicating that the shipping costs of containers coming from Europe and the United States have largely remained unchanged while those from China continue to fluctuate.
In November, the cost to ship a 20-foot container to the port of Aqaba from Jeddah was $700 and from Montreal, $3,200, while a 40-foot container cost $800 from Jeddah and $3,900 from Houston.
According to AlKhatib, shipping a 20-foot container and a 40-foot container from China to Jordan costs $2,500 and $3,000, respectively.
Source:Jordan News Agency