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GLOBAL SHIPPING CRISIS CONTINUES

GLOBAL SHIPPING CRISIS

ACCC Investigating Soaring Covid-linked Global Shipping Crisis and Container Costs

Freight rates are increasing significantly and have been over the last 12 months due to port shutdowns, limited container availability and manipulation by the shipping lines. Some routes have increased over 300% with Asia to Europe shipping seeing $25,000.00 USD for a 40′ container for example China to Germany. The shipping lines are getting higher margins on Europe bound routings so are utilising their containers for these routings which are leaving limited containers for China to Australia traffic. Hence driving up the price of container shipping.

Below is a link to a press release explaining the current state of play of the Global Shipping Crisis and what the Australian government is doing to rectify the crazy freight rates.

MEDIA RELEASE

We hope this information continues to provide you with an insight into the chaotic and volatile Shipping Industry.

 

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