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Pandemic drives sea freight prices to record high
Issued on:
04/07/2021 - 04:50 Bottlenecks in the availability of shipping containers has helped drive transporation costs higher Saeed KHAN AFP/File 4 min
London (AFP)
Container shipping prices have reached record highs some 18 months after the outbreak of the coronavirus pandemic which disrupted maritime logistics chains and drove demand sky-high. We are basically running out of vessels and of empty containers, Alan Murphy, head of the consultancy Sea Intelligence, told AFP. There s been a massive shortage of empty containers, they are in the wrong place, they are stuck in ports and not in Asia ready to be loaded.
Sunday 4 July 2021 - 5:57am
Bottlenecks in the availability of shipping containers have helped drive transportation costs higher.
AFP/Saeed Khan
LONDON - Container shipping prices have reached record highs some 18 months after the outbreak of the coronavirus pandemic which disrupted maritime logistics chains and drove demand sky-high. We are basically running out of vessels and of empty containers, Alan Murphy, head of the consultancy Sea Intelligence, told AFP. There s been a massive shortage of empty containers, they are in the wrong place, they are stuck in ports and not in Asia ready to be loaded.
The Freightos Baltic Index, a benchmark for major shipping routes, has more than tripled in a year to nearly $7,000 (5,900 euros) for a trip from China to the west coast of the United States.