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Container shipping: Container rates to US top $10,000 as shipping crunch tightens

Synopsis The spot rate for a 40-foot container from Shanghai to Los Angeles increased to a record $9,733, up 1% from the previous week and 236% higher than a year ago, iStock Goods in containers are flooding into the biggest U.S. gateway for seaborne trade at five times the volume of steel boxes full of exports. Container shipping rates from Asia to the U.S. and Europe increased to new record levels over the past week, ensuring transportation costs will stay elevated for companies heading into a peak season for rebuilding inventories. The spot rate for a 40-foot container from Shanghai to Los Angeles increased to a record $9,733, up 1% from the previous week and 236% higher than a year ago, according to the Drewry World Container Index published Thursday. The Shanghai-to-Rotterdam rate rose to $12,954. The composite index, reflecting eight major trade routes, hit $8,883, a 339% surge from a year ago.

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