Shanghai’s ocean freight rates stuck in free fall from Covid-19 highs as weakened global economy exacerbates gloomy outlook

Shippers in Shanghai now charge about US$2,000 to transport a 20-foot equivalent container to the US west coast, down from US$20,000 in the summer of 2021 when the pandemic disrupted the supply of Chinese-made goods in high demand abroad.

Read the original article at South China Morning Post