The cost of shipping goods from China to Europe has reached a record high
The cost of shipping goods from China to Europe has increased dramatically and reached a record level. The main reason for this growth is the acute shortage of containers and the recovery in consumer demand. This is reported by the Financial Times.
Back in November last year, the price of shipping of a 40′ container from Asia to Europe was at the level of $2,000, while now it exceeds $9,000. According to experts from the consulting company Sea-Intelligence, the price increase is due to the fact that there is a struggle for a limited resource – containers. Thousands of empty containers in Europe and the United States remained unclaimed in the first half of 2020, when shipping companies were forced to cancel hundreds of flights due to “coronavirus” restrictions that paralyzed global trade. However, in the second half of the year, when demand for Asian goods began to recover, competition for containers among shippers increased, which led to a sharp jump in the cost of freight.
