About 90% of worldwide freight depends on shipping. Rising sea levels could endanger numerous coastal ports, often situated just a few to 15 feet above sea level.
So what?
Despite this looming danger, many port managers perceive this risk as distant due to uncertainties in sea level rise and lack of solutions. Notably, during the pandemic, shipping container costs across the Pacific surged from $2,000 to $15,000 or $20,000, offering insights into the potential operational risks from port disruption.
Sources
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A perfect storm for container shipping https://www.economist.com/finance-and-economics/a-perfect-storm-for-container-shipping/21804500 -
Analysis: Some ocean shipping rates collapsing, but real price relief is months away https://www.reuters.com/business/retail-consumer/some-ocean-shipping-rates-collapsing-real-price-relief-is-months-away-2023-01-09/
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