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A severe shortage of shipping containers is leading to rising shipping costs and difficulty moving goods, playing havoc with seafood exporters in Asia.
The shortage has been felt by all major exporters in Vietnam, Thailand, China, and India. Data from Vietnamese seafood exporters show that the shipping cost to the European Union rose between 145 percent and 276 percent in January, compared to December last year.
Shipping rates from Vietnam to major ports this month increased to USD 7,000 (EUR 5,798) per container, from USD 2,850 (EUR 2,360) per container last month. Some carriers charged as much as USD 10,550 (EUR 8,738) for a container this month, up from USD 2,800 (EUR 2,319) per container in December.