Shipping during COVID-19: Why container freight rates have surged | Hellenic Shipping News Worldwide
Shipping during COVID-19: Why container freight rates have surged When the Ever Given megaship blocked traffic in the Suez Canal for almost a week in March, it triggered a new surge in container spot freight rates, which had finally started to settle from the all-time highs reached during the COVID-19 pandemic. Shipping rates are a major component of trade costs, so the new hike poses an additional challenge to the world economy as it struggles to recover from the worst global crisis since the Great Depression. “The Ever Given incident reminded the world just how much we rely on shipping,...
Source: hellenicshippingnews.com