Container shipping costs plunge as consumer spending declines new

Global maritime trade has fallen to a shadow of pandemic peak as high inflation and reopenings hit goods purchases The price of shipping goods on vital global trade routes has fallen 85 per cent below its peak as the cost of living crisis hits consumer spending and pandemic-related supply chain disruption eases. This month it cost $1,444 to ship a standard 40ft steel container from eastern China to the US west coast at short notice, according to shipping data specialist Xeneta, down from a peak of $9,682 in March last year. The widespread delays and queues, which hit ports at the height of the pandemic, have also dissipated. Kiel Institute, a German think-tank, said despite a monthly gain of 2.1 per cent in January 2023, the quantity...   View more

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