Surging prices for containers and congestion at ports around the world has driven shipping rates sky-high over the past year. Photo: Reuters
Surging prices for containers and congestion at ports around the world has driven shipping rates sky-high over the past year. Photo: Reuters

China-US shipping rates begin to cool as power crisis forces production cuts, but freight costs still elevated

  • The spot rate for shipping a 40-foot container from China to Los Angeles has dropped about 51 per cent from US$17,500 last month to US$8,500
  • Shipping costs between Asia and the US also dropped 16 per cent last week, marking the first significant dip since August, according to Freightos

Surging prices for containers and congestion at ports around the world has driven shipping rates sky-high over the past year. Photo: Reuters
Surging prices for containers and congestion at ports around the world has driven shipping rates sky-high over the past year. Photo: Reuters
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