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Are you shipping me?!? $32,000 container move from China to LA
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Container freight rates up more than three-fold in 12 months
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Synopsis
In India, October is the onset of the holiday season, similar to that in the US. Hence, it is usually the time when demand for certain manufactured goods like electronics and garments rises. This hike in demand plays a critical factor in the rising prices of containers.
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As countries continue to roll out gargantuan vaccination drives and pandemic restrictions are eased globally, consumers are more likely to spend on travel, entertainment, and hospitality.
With two-thirds of the world being covered in water and the rapid growth of globalization, the shipping industry has become a pivotal support system to commerce and trade all around the globe. According to the United Nations Conference Trade and Development (UNCTAD) report, around 80% of global trade by volume and over 70% of international trade by value are carried by sea, thus earning it the title of the backbone of the industry.
Another scourge on supply chains What could be the repercussions of pandemic recurrence in China?
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