As Southeast Asian countries reopen their borders and ease pandemic restrictions, demand for imports from China is rising and ports are growing congested, driving up shipping costs.
As of Monday, the shipping rate for Chinese exports to Southeast Asia climbed to nearly $4,000 per container, 10 times as much as in previous years, Caixin learned.
Costs started surging in early November and more than doubled within a month as there have been few ships available, a Shanghai-based freight forwarder told Caixin. A shipment of farm machinery was delayed two weeks, during which freight rates skyrocketed, he said.
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