Container shipping prices have reached record highs about 18 months after the outbreak of the coronavirus pandemic that disrupted maritime logistics chains and drove demand sky-high.
The Freightos Baltic Index, a benchmark for major shipping routes, has more than tripled in a year to nearly US$7,000 (€5,900) for a trip from China to the west coast of the United States.
A trip to Europe has exceeded US$10,000, compared with just US$1,600 at the same time last year.
Disruptions to loading and unloading operations, from dockers falling ill and COVID-19 restrictions to unforeseen events like the shipping backlog caused the blockage of the Suez Canal in March, have only exacerbated the trend.
