- Containers stay piled up in Europe and the US rather than been sent back to Asia.
- British businesses heavily hit which move and sell imported goods.
- The average cost of shipping a 40-foot container rose from $1,752 last Feb to more than $8,000 at the end of last week.
Continuing shipping chaos causes British firms to face surging import costs up to 700% per container in recent months, reports This is Money.
Global container shortage
British businesses are facing thousands of pounds in extra costs and consumers the prospect of higher prices as a global shortage of containers continues to cause chaos.
Shipping cost
The average cost of shipping a 40-foot container from Asia to Northern Europe, including the UK, has skyrocketed from $1,752 last February to more than $8,000 at the end of last week.
Rise in per container cost
Meanwhile the manager of a Leeds-based flooring seller said he had recently been invoiced nearly $16,000 for shipping a container from China.
His costs have risen from $2,000 per container a few months ago to $10-14,000 on average.
“It’s one of the most insane hikes by the shipping lines I’ve ever seen. Prices have been rising since Christmas and every time we think they can’t get any higher. It’s insane.”
Did you subscribe to our daily newsletter?
It’s Free! Click here to Subscribe!
Source: This is Money
