Container shipping prices seen at record highs

After the outbreak of the Coronavirus pandemic that disrupted maritime logistics chains and drove surging demand, container shipping prices have reached record highs. There’s a massive shortage of empty containers, they are in the wrong place, are stuck in ports and not in Asia ready to be loaded, reports said. The Freightos Baltic Index, a benchmark for major shipping routes, has more than tripled in a year to nearly $7,000 for a trip from China to the West Coast of the United States. A trip to Europe has exceeded $10,000, compared with just $1,600 at the same time last year, the reports added.

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source:eximin.net