The Bank of Italy has published its 2024 report on Italy’s international freight transport, finding that average transport costs increased, with the largest rises in maritime container shipping as routes were diverted following Houthi attacks in the Red Sea. The increase in sea freight rates was the main factor behind the widening deficit in Italy’s merchant shipping transport balance within the balance of payments. The survey, conducted since 1998 to support compilation of the services account of the balance of payments, primarily collects information on freight rates disaggregated by transport mode and cargo type, and on carriers’ market shares by nationality. The 2024 results are based on interviews with 214 international freight transport operators and show that the market shares of Italian carriers were broadly stable overall.

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