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Coronavirus: shipping rates to stay at ‘unprecedented’ levels until pandemic brought under control

Summary:
[unable to retrieve full-text content]In more than 10 years in the logistics business, David Sun says he has never seen shipping fees climb as high or quickly as they have this year.“It’s unprecedented,” he said on the phone from Yiwu, a central Chinese city known as the world’s largest trading centre for small commodities.Ocean freight fees are three to five times higher than the same period last year. The cost of moving a 40-foot sea container from China to Dubai is normally less than US,000, but it now costs about US,000.The…

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[unable to retrieve full-text content]
In more than 10 years in the logistics business, David Sun says he has never seen shipping fees climb as high or quickly as they have this year.“It’s unprecedented,” he said on the phone from Yiwu, a central Chinese city known as the world’s largest trading centre for small commodities.Ocean freight fees are three to five times higher than the same period last year. The cost of moving a 40-foot sea container from China to Dubai is normally less than US$1,000, but it now costs about US$5,000.The…

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