The price of sea freight has increased sevenfold in one year

By: Trademagazin editor Date: 2021. 07. 27. 11:15

Shipping rates have increased sevenfold in one year, last summer it cost an average of 1,650 USD to transport a 40-foot sea container from Shanghai to Rotterdam, and today the same amount of goods is 11,196 USD, iBanFirst, an international payment institution offering cross-border financial solutions, said on Tuesday in a communication.

It was highlighted in the communication that the extreme rise in sea freight rates is also due to the fact that the price of containers has risen from 3,000 USD in the summer of 2020 to now around 20,000 USD.

The increase in freight rates has first had an adverse effect on low value-added goods with low margins, such as refrigerators, but now also has a strong impact on the transport of high value-added goods. (MTI)