Red Sea Tensions Drive Up Logistics Prices in Vietnam

Published: Mar 1, 2024 14:22

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The tense situation in the Red Sea has pushed up logistics prices in Vietnam. According to the Investment Newspaper of Vietnam, logistics costs currently account for a high proportion of the trading costs of Vietnamese agricultural products for export, and the continuous increase in transportation costs, especially sea freight logistics prices, has caused many difficulties for Vietnamese agricultural processing and export enterprises. The report states that transportation costs in Vietnam account for a high proportion of the total logistics costs, reaching more than 60%, roughly twice that of other countries, especially as sea freight logistics are highly dependent on foreign shipping companies.

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