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26 Jan 2021

An ‘aggressive’ fight over containers is causing shipping costs to rocket by 300%

Key points:

  • Shipping costs have skyrocketed as desperate companies wait weeks for containers and pay premium rates to get them, according to industry watchers.
  • Ikea’s Singapore operations called it a “global transport crisis” and estimates 850 of its 8,500 products are affected by shipment delays.
  • Chinese tech giant Alibaba’s logistic arm Cainiao launched a container booking service last week in response to the global shortage.

Read the full article here.

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