Saudi National Industrialization Co. reduces loans by over 66%, CEO reveals arabnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from arabnews.com Daily Mail and Mail on Sunday newspapers.
JEDDAH: Shipping costs have increased by 700 percent as a result of the pandemic, according to the CEO of the Saudi National Industrialization Co. Container plants in China stopped their production during the pandemic, which led to an increase in the container rental price from $800-1,200 to $7,500-8,500. The long-term shipping contracts signed by the company, also known as