Sea Transportation —A rising tide lifts all boats

Sea Transportation —A rising tide lifts all boats

Global supply chains are unbalanced and shipping prices are soaring. Since the COVID-19 outbreak, the global containerized shipping prices have skyrocketed unprecedentedly. In addition to skyrocketing prices, a sharp drop in punctuality is also a major problem faced by container shipping. One important reason is port congestion. Skyrocketing global shipping prices and flight misalignment are symptoms, which reflect the imbalance of global supply chain in essence.

One medium – to long-term factor contributing to today’s rising sea freight prices is the current lack of capacity. There are still two urgent and practical problems facing shipping companies: shortage of people and containers. Affected by the epidemic and the requirements of epidemic prevention policies of various countries, global sea and air transport capacity continues to be tight, and logistics and supply chain costs of enterprises remain high.

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