10 Feb The Shortage of Shipping Containers Is Driving Up Prices & Increasing Delays
Because of the effects of pandemic and uneven global economic growth, there has been a growing demand for shipping containers resulting in increased prices and long delays.
Many businesses specializing in global trade desperately wait weeks for containers to arrive and pay premium prices, resulting in the cost of shipping to spike.
“For the route from Asia to the West Coast of the U.S., rates are up 145% year over year ago.” (Source: CNBC.com 2021/01/22)
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