Red Sea crisis pressures China’s exporters as shipping delays mount

For Chinese businessman Han Changming, disruptions to Red Sea freight are threatening the survival of his trading company in the eastern province of Fujian.

Han, who exports Chinese-made cars to Africa and imports off-road vehicles from Europe, said the cost of shipping a container to Europe had surged to roughly $7,000 from $3,000 in December, when Yemen’s Iran-aligned Houthi movement escalated attacks on shipping.

“The disruptions have wiped out our already thin profits,” said Han, adding that higher shipping-insurance premiums are also taking a toll on Fuzhou Han Changming International Trade, the company he founded in 2016.