Shippers tack on US$1,000 surcharge because of Panama Canal drought and Red Sea attacks

(Image: Port of Tauranga)

Fri, 12 Jan 2024

Kotahi, New Zealand’s largest shipping group, says exporters face a shipping surcharge of US$1,000 (NZ$1,600) per container because of disruption at the critical Suez and Panama canals.The shipping crisis has been precipitated by attacks on commercial shipping vessels through the Red Sea south of the Suez Canal by a Yemeni rebel group, as well as severe drought on the Panama Canal, which has reduced transit capacity from about 40 ships a day to 18.Major shipping companies Maersk, Hapag-Lloyd and MSC have diverted more than 80% of their ve...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Law & Regulation

Words every killer should know: 'I feared for my life, officer'

Legally sanctioned homicides shoot up in 'stand-your-ground' American states.

The Wall Street Journal 5:00am

Technology

Oppo Find X9 Pro first look: The moment Oppo grows up

The restless experimenter of the smartphone world has never been afraid to tinker.

Peter Griffin 5:00am

Oppo Find X9 Pro first look: The moment Oppo grows up

Opinion

Eden Bradfield: Stewart’s Comvita bid ain’t that sweet

Honey firm’s takeover bid is hard to swallow.

Eden Bradfield 01 Nov 2025

Sponsored

Move-in ready offices: How business are rethinking workspace

Businesses want agility – and office space is evolving fast

Sponsored by Precinct Properties

Sponsored

NZ risks losing edge as Australia takes lead in cleaner jet fuel

Experts warn SAF delay could cost jobs and growth.

Z Energy

More Primary Sector

Primary Sector

Rising volumes push Port of Tauranga profit outlook higher

Port of Tauranga expects its full-year net profit after tax to fall somewhere between $137 million and $147m.The NZX-listed port company’s container volumes increased 9% to 319,649 TEUs in the first three months to Sept 30.Total trade increased 5.9% in volume compared to the same...

Staff reporters 31 Oct 2025

Primary Sector

AgriZeroNZ invests $1.7m in Australian cattle IVF platform

AgriZeroNZ has invested A$1.5 million (NZ$1.7m) into Queensland biotech company Nbyro, which aims for faster breeding of more emissions-efficient livestock.The public-private joint venture was the co-leader in a wider funding round for Nbyro. The stake is AgriZeroNZ’s 10th equity...

Staff reporters 31 Oct 2025