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Transport

'Stratospheric': shipping costs jump 400%

Brent Melville
Thu, 01 Jul 2021

Freight costs still sky high, loading at Port of Tauranga. (Image: Deposit Photos)
Brent Melville
Thu, 01 Jul 2021
Exporters say freight prices are going from expensive to “stratospheric” as global shipping gridlock continues to bite.Quoted shipping rates are reported to have soared by as much as 400% since the impact of covid, with spot rates for containers jumping from $800 to a record of more than $4,000 for twenty-foot-equivalent units between China and New Zealand over the last 12 months.But it’s a global scenario, with rates being propelled along on the back of container shortages related to sky high US demand. The situation has not...

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