Containerized maritime freight shipping costs have roughly tripled in the last year while experiencing significant volatility. The immediate cause is a lack of shipping containers due to pandemic-related transportation inefficiencies that have hit a breaking point. Data from Freightos Baltic Index shows that shipping routes from East Asian nations are experiencing the highest cost increases, though the consequences have been global. Source: Source: Freightos, “Freightos Baltic Index,” accessed February 22, 2021. Graphic compiled by USITC staff.
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