According to A CCTV financial report, sea freight prices have been climbing since May this year.
As of Oct. 9, Shanghai’s freight rates for exports to the U.S. West and U.S. East Basic ports were $3,848 and $4,622 per container, respectively, the highest since 2009, nearly tripling from $1,361 per container in early March.
Container prices have soared mainly because shipping companies have been hit hard by the outbreak, leaving them short of capacity to meet the sudden increase in demand.
The reason for the increase in demand for shipping is that many foreign trade orders began to be replenished after the outbreak was brought under control at home.
Meanwhile, cross-border e-commerce has brought new categories of goods.
CCTV’s financial reports, even though China has now fully resume work and production, the European and American countries also restart the economic activity, but the shipping container shipping companies to restore to its normal state of transportation need time, plus the consumption peak season is coming, so far, in the following a period of time, shipping prices stay high level is still a big probability event.
This shows, the first half of the foreign trade industry, which suffered a huge impact, from the second half of this year began to recover gradually, and in the fourth quarter of rapid growth.
As a more direct example, China’s exports totaled 1.661.97 trillion yuan in September, up 8.7 percent year on year, according to the General Administration of Customs.
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Post time: Oct-16-2020
