Reklam
Reklam
Reklam
Reklam
Reklam
Reklam
Reklam

Shipping costs quadruple to record highs on China-Europe trade lane

THE cost of China-Europe shipping has more than quadrupled in the past two months weeks, hitting record highs as a shortage of empty containers stemming from the Covid crisis, reports London's Financial Times

21 January 2021 - 19:00
THE cost of China-Europe shipping has more than quadrupled in the past two months weeks, hitting record highs as a shortage of empty containers stemming from the Covid crisis, reports London's Financial Times.

The cost of shipping an FEU from Asia to northern Europe has increased from about US$2,000 in November to more than $9,000, according to shippers and importers.



Lars Jensen at consultancy SeaIntelligence said, 'It's a bottleneck problem. These rates are being driven by customers fighting over a limited resource - containers.'



Thousands of empty containers were left stranded in Europe and the US in the first half of 2020 when shipping lines cancelled hundreds of trips as coronavirus lockdowns caused a sudden slowdown in global trade. When western demand for Asian-made goods rebounded in the second half of the year, competition among shippers for available containers sent freight rates soaring, the FT said.


SeaNews Turkey
This news 898 hits received.

COMMENTS

  • 0 Comment