The Ningbo-Zhoushan Port in Ningbo, east China’s Zhejiang province. The Covid-19 pandemic has been a boom for the global shipping sector as the cost of transporting goods has risen substantially amid surging demand. Photo: Xinhua The Ningbo-Zhoushan Port in Ningbo, east China’s Zhejiang province. The Covid-19 pandemic has been a boom for the global shipping sector as the cost of transporting goods has risen substantially amid surging demand. Photo: Xinhua
The Ningbo-Zhoushan Port in Ningbo, east China’s Zhejiang province. The Covid-19 pandemic has been a boom for the global shipping sector as the cost of transporting goods has risen substantially amid surging demand. Photo: Xinhua

Global shipping lines have their best year since 2008 as economic reopening after Covid-19 spurs demand for goods

  • The shipping sector has seen bumper earnings because of two main reasons – rising demand for goods and disruption to global supply chains, as the pandemic has limited the industry’s ability to move goods quickly
  • Container shipping costs have risen more than 500 per cent year on year; it now costs US$14,287 to haul a 40-foot steel box from China to Europe

Topic |   Transport and logistics
The Ningbo-Zhoushan Port in Ningbo, east China’s Zhejiang province. The Covid-19 pandemic has been a boom for the global shipping sector as the cost of transporting goods has risen substantially amid surging demand. Photo: Xinhua The Ningbo-Zhoushan Port in Ningbo, east China’s Zhejiang province. The Covid-19 pandemic has been a boom for the global shipping sector as the cost of transporting goods has risen substantially amid surging demand. Photo: Xinhua
The Ningbo-Zhoushan Port in Ningbo, east China’s Zhejiang province. The Covid-19 pandemic has been a boom for the global shipping sector as the cost of transporting goods has risen substantially amid surging demand. Photo: Xinhua
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