Shanghai’s Yangshan Deep-Water Port. The city’s two-month citywide lockdown has also affected supply and demand for shipping. Photo: Xinhua
Shanghai’s Yangshan Deep-Water Port. The city’s two-month citywide lockdown has also affected supply and demand for shipping. Photo: Xinhua

Chinese shippers face abyss as freight rates plummet 60 per cent from ‘unprecedented’ highs at height of coronavirus pandemic

  • Windfall brought by the Covid-19 pandemic ‘is history’, Shanghai-based shipping agent says
  • Shippers are currently charging 60 per cent less to transport a 40-foot equivalent container to the US’ west coast, compared with the beginning of this year, according to data from Freightos

Shanghai’s Yangshan Deep-Water Port. The city’s two-month citywide lockdown has also affected supply and demand for shipping. Photo: Xinhua
Shanghai’s Yangshan Deep-Water Port. The city’s two-month citywide lockdown has also affected supply and demand for shipping. Photo: Xinhua
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