Consumers are going to bail out of buying certain products, and you’re going to see all kinds of aftermath if this continues. But it’s already getting really expensive. Okay, so let’s dive in right now out of CNBC. Wait, hold on. Let me see if I can lower my. There we go. Now a little farther away. All right. Container rates. I don’t want to kill my battery. Here we go.

With the Red Sea diversions by shipping companies, including Macerek, including continuing amid the risk of attacks by the Houthis. I don’t know why. I just get super excited when there’s a crisis and there’s. I don’t know why. Type one, if you do agree it’s exciting times to be alive. It’s so exciting. I have a hard time reading. Ninja doesn’t read very well. Good news is if you don’t read very well or you don’t know math too much, your bank account doesn’t care.

You can still start businesses and make lots of money and be successful and have lots of friends. That’s the good news. Now let’s pick up where I left off with the Red Sea diversions by shipping companies, including Mesrek, if I even pronounced that right. Continuing amid the risk of attacks by the Houthis, global logistics managers are faced with a two front storm of rising ocean and air freight prices and stranded cargo.

Both are threats to the global supply chain. After three tumultuous years of inflationary pressures and delays from COVID disruptions which recently seemed to finally have been vanquished, the ceiling in ocean freight prices shot up in a matter of hours on Thursday as a result of more vessels diverting from the Red Sea. CNBC has learned that logistic managers were quoted this morning as an ocean freight rate of $10,000 per 40 foot container from Shanghai to the UK.

Last week, rates. Last week rates were 1900 for a 20 foot container and 2400 for a 40 foot container. So it went up a little bit more than four times. Holy cow. Truck rates in the Middle east are now being quoted. Stop it. Are now being quoted are more than double, Alan Baer, CEO of Olusa, tells CNBC. While pricing is undergoing rapid adjustments as ocean carriers work to recover the added cost of diverting their vessels, these massive jumps in rates need to be clarified as the shipping community of importers and exporters, along with government regulators, seek to better understand the overall drivers of these large increases.

During COVID we had a slower buildup in freight prices due to the impact of the pandemic that it had on the global supply chain, Bear said. What we are experiencing here is a light switch event where vessels are being redirected in real time. But that said, in certain trade lanes you are seeing freight rates going up between 100 and 300%. This does not appear to be totally driven by changes in supply and demand.

There are currently 158 vessels being diverted from the Red Sea holding over $100 billion in trade. As of Thursday morning, the 158 were being rerouted away from the Red Sea carrying over 2. 1 million cargo containers. That is hard to believe. That is insane. It’s insane. Those ships, they hold all the containers and you see those videos of them falling and all the containers are dropping off in the ocean.

It’s crazy. Some fish is just cruising around with some big screen tv. They say that the value of the cargo, based on the MDS transmodal estimates of $50,000 per container is $105,000,000,000. There is no short term end to the attacks in sight. Ikea is among the companies to indicate that the trade diversions will impact product availability. So if you want your cheap cabinets, you’re going to be screwed.

I only say that because I used to be a cabinet builder in told CNBC, sorry I can’t show you, but I’m looking at a Chia head of Joe Biden right now. All right? It told CNBC Ikea, we’re talking about that. While all these jokes about Ikea thrown through my head. I’m so sorry. It’s so hard to supposed to be professional. Look at me, I’m hiding in my garage, in my car because I can’t find a quiet place.

I live in a really tiny house, by the way. It’s tiny, okay. It told CNBC that while it does not own any container vessels, it is working with transportation partners to manage shipments and to ensure the safety of the people working in Ikea. Value the chain. Boy, I wonder what Home Depot is about to say. They’re like oh crap. Just when you think they’re getting out of it, what they said Ikea is what we can share for now is that the situation in the Suez Canal will result in delays that may cause availability constraints for certain Ikea products, said an Ikea spokesman.

Wow, it’s like hiring captain obvious there. This is our main priority. In the meantime, we are evaluating other supply options to secure the availability of our products. What? Are you going to do that fast? Hey, Thailand, can you start making us some cabinets? No. Okay. French dairy and plant based products. Who cares about those? Company Danone. Dan one. Danone. Sorry, this has been a long day. I’ve been really stressed out.

Is disputing reports of impacts on its supply chain. It’s like our plant based food doesn’t come from China. With a spokesperson emailing CNBC, there has been no significant short term impacts reported to Dan Oni’s activity. It’s Dan one. Whatever. We are closely monitoring the situation in relationship with our suppliers and partners. We will not be making any further comments. Don’t you piss off Dan Oni because they’re french dairy.

Hey, I thought you were a french dairy. Crap. Ours come from China. Our cows are in China. You figured it out? Yeah. Like the French to run away from a problem. Okay, options for stranded cargo. Let’s go over this. Logistics CEO Tells Logistics CEOs tells CNBC they are presently sorting out this cargo. And for the cargo considered stranded in Europe or the Middle east, they are looking to move select products by air as a possible solution.

Yeah, you know those 80, 40 foot containers? Got to put them on a plane. Have you ever tried to buy like an extra seat? I guess if you’re super big, you don’t need to have an extra seat these days. But I’m almost there and so you’re like, hey, I just want to buy an extra seat for my dog. You can’t have. It’s like $1,000. Can you imagine putting a 40 foot container? Let’s just put it on these planes.

I know right now there’s someone so pissed. That’s a cargo plane. All right, copy, captain obvious. Being nimble is key, though. This is what CNBC says. Being nimble is key for logistics to keep trade moving. Well, no duh. Ocean carriers, including metric, CMA, CCGM and hapagaloid, who comes up with these names? Have invested in their logistics supply chain management. Look, point being is this. I’m going to be honest with you.

I have a feeling this is being done on purpose to hurt international trade. I believe these attacks are being done in a way, and I believe there’s a big group orchestrating this bricks I mean, honestly, they are building the building blocks of new trade, new settlement. They’re squeezing America? I don’t know, I guess this is a good old fashioned conspiracy. You let me know down below what you think about these houthi rebels that are attacking the Red Sea.

It’s interesting that we haven’t blown them to kingdom come, but I guess that’s just who we are now. We’re just sort of weak. It’s what we do. So, world’s changing fast. Hope you guys are ready. The economic ninja is out. .