Global Shipping Prices Skyrocket! Asian Routes in particular in the Past Month
22 Jul 2024
Video Introduction:
Recently, with the strong growth in demand in the shipping market, freight rates have continued to soar. Not only the high-profile Asia-North America routes and Asia-Europe routes, but also the intra-Asia short-ocean routes are showing a sharp increase in freight rates. Ocean freight rates from China to India surged nearly 250% in one month. Global port congestion has worsened, particularly in Asia and the Middle East. Congestion at Singapore's port, one of the world's busiest ports, has also led to higher container shipping prices.
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