Before last October, shipping costs to the UK and Europe were roughly equal
Problems at UK ports and a surge in stockpiling has caused a spike
Shipping costs for Europe peaked at $8,455 a crate but for the UK it was $11,000
Some businesses are still seeing costs increase while the recent blockage of the Suez Canal could impact importers for months to come
Global shipping costs have skyrocketed due to a shortage of containers
They have piled up in Europe and the US rather than been sent back to Asia
This has meant shipping lines have put up prices
This has heavily hit British businesses which move and sell imported goods - and the higher prices could continue for months
Has your business been hit? Get in touch: george.nixon@thisismoney.co.uk