Traders caught in middle of sea freight costs hike as disruptions worsening
Published: Wednesday, 25 November 2020
The recent surge in container freight costs and availability of cargo space continue to disrupt trade flows in minerals and metals, with trading companies finding themselves unable to dodge the soaring shipping rates.
A combination of fewer vessels on the water, an imbalance in
trade flows to and from China, and competition between cargoes
kickstarted a rapid increase in shipping costs for container
freight out of China over the past two to three
The higher rates have already affected prices...