The cost of transporting goods in a container from Europe to Asia rose above $ 10,000 for the first time in history. The rise highlights the pain that exporters and importers are experiencing due to problems in supply chains, Bloomberg writes.
The Drewry World Container Index, released on Thursday, showed that the fee for a 12-meter container from Shanghai to Rotterdam rose to $ 10,174 – an increase of 3.1% for a week and 485% over a year earlier. The overall index for eight major sea routes rose 2% to $ 6,257 from last week and 293% from a year earlier, recording its highest point since 2011.
Fees are rising as demand for 6- and 12-meter containers far exceeds supply. They are among the most used in world trade. Strong consumer demand for goods and the recovery of companies’ inventory, as well as problems such as the blockage of the Suez Canal in late March and congested ports, are causing delays and higher costs for traders, while transport companies are enjoying growing profits.
Thus, the shares of AP Moller-Maersk, the largest company in this sector, reached a record earlier this week.
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