From China to the EU it adds roughly 1/3rd to the time, which is a decent proxy for cost. There are savings in not having to pay Suez fees but these don't seem to make a huge affect to shipping costs.

It's probably worth adding that going round the cape doesn't add just more cost to fuel and time, insurance for cargo down there isn't cheap either as the weather is very changeable.

Perun has a pretty nice long video presentation that talks about the factors involved and what they may mean for shipping: https://www.youtube.com/watch?v=8GKlKYQDDcQ

Makes for good background listening.

I guess it's the same as when the Suez canal was blocked [1] . It will result in about 2 weeks longer transportation time. Don't know about costs.

[1] https://en.wikipedia.org/wiki/2021_Suez_Canal_obstruction

It's not just shipping costs and times, but also (and perhaps most importantly) shipping's total capacity. The same fleet of ships can now make substantially less trips, which means that substantially less goods will be transported between Europe and Asia. Perhaps rising costs of shipping on this route will divert some ships from other routes around the world here, but overall outcome across entire world has be to less maritime commerce, leading to increase in prices of goods.

The trip is about 15 or so days, with the associated fuel costs. Granted, fuel costs are distributed across tens of thousands of containers, so the delay will probably be the bigger issue.

With renewed unrest in the area (140mi 280km to Gaza), cost of sinking the entire cargo vs an extra two weeks is also a consideration.

He estimated ~2% consumer price increase in a diff comment.