China-U.S. container shipping rates sail past $20,000 to record | Hellenic Shipping News Worldwide

Container shipping rates from China to the United States have scaled fresh highs above $20,000 per 40-foot box as rising retailer orders ahead of the peak U.S. shopping season add strain to global supply chains.“

The acceleration in Delta-variant COVID-19 outbreaks in several counties has slowed global container turnaround rates.

These factors have turned global container shipping into a highly disrupted, under-supplied seller’s market, in which shipping companies can charge four to ten times the normal price to move cargoes,” Philip Damas, Managing Director at maritime consultancy firm Drewry, said.

China-U.S. container shipping rates sail past $20,000 to record | Hellenic Shipping News Worldwide