Shipping industry officials in Shanghai described the lofty freight rates between 2020 and early this year as a ‘windfall’ brought about by the Covid-19 pandemic. Photo: Bloomberg
Shipping industry officials in Shanghai described the lofty freight rates between 2020 and early this year as a ‘windfall’ brought about by the Covid-19 pandemic. Photo: Bloomberg

Shanghai’s ocean freight rates stuck in free fall from Covid-19 highs as weakened global economy exacerbates gloomy outlook

  • Shippers in Shanghai now charge about US$2,000 to transport a 20-foot equivalent container to the US west coast, down from US$20,000 in the summer of 2021
  • Shipping industry officials described the lofty freight rates between 2020 and early this year as a ‘windfall’ brought about by the Covid-19 pandemic

Shipping industry officials in Shanghai described the lofty freight rates between 2020 and early this year as a ‘windfall’ brought about by the Covid-19 pandemic. Photo: Bloomberg
Shipping industry officials in Shanghai described the lofty freight rates between 2020 and early this year as a ‘windfall’ brought about by the Covid-19 pandemic. Photo: Bloomberg
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